WISE Financial Literacy Quiz (Credit and Insurance)

Which is NOT a consequence of paying a credit card bill late.

The longer the debt repayment terms the _____________ the cost of repaying a loan.

Insurance to insure a person's income against the risk that they can no longer perform at work.

High fees and interest when using your credit card to get cash at an ATM.

Life insurance policy which is guaranteed to remain in force for the insured's entire lifetime.

You should cancel collision insurance in this circumstance.

A fixed amount you pay for a covered health care service, usually when you get the service. 

The lower the credit score, the higher the risk and the _________ the interest rate on loans.

Unfair, deceptive, or fraudulent practices of some lenders during the loan origination process.

A store which offers loans in exchange for collateral, if not repaid store keeps collateral.

Which type of insurance gives you a cash value?

A law enacted in 1968 that protects consumers in their dealings with lenders and creditors.  

Insurance works by pooling ______, this helps insurance companies spread out potential losses.

Consequence of paying only the minimum payment on credit card.

If a insurance deductible is raised, then the premiums _________.

Which of the following is NOT a step to follow if you think you are a victim of identity theft.

Which of the following is NOT a credit reporting agency?

Life insurance which provides coverage at a fixed rate of payments for a limited period of time

Which of the following will NOT lower your cost of auto insurance.

Insurance that covers liability and the contents of a dwelling and not the structure itself.

Allows access to certain doctors and hospitals within its network with lower rates for members 

Is it better or worse to have a high debt to credit ratio when getting a loan.