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Duplicate of Borrowing Flashcards | StudBud
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Duplicate of Borrowing
Duplicate of Borrowing
10 terms
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StudBud Administration
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This is a review tool for my Health III/Personal Finance class.
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
A person with poor money management habits who develops a poor credit score is referred to as a
minor
cosigner
subprime borrower
loan shark
2
A three digit number based on a person's credit report is called a(n):
capital
APR
interest rate
credit score
3
All of the following are key criteria that lenders use in determining loan approvals EXCEPT:
conditions
character
community
capital
4
Bad credit scores or no credit history often leads to
higher insurance payments for cars & other property coverage
all of the above
higher interest rates
more rejections for apartments, loans, etc.
5
A history of steady employment and increasing income is referred to as
capital
capacity
character
collateral
6
Examples of information required on a credit application includes
all of the above
full legal name
social security number
date of birth
7
Building strong borrowing habits now includes
returning anything you borrow promptly and in good condition
avoiding overdrafts in your checking and savings accounts
managing your cash flow so you rarely need to borrow money
all of the above
8
All of the following are credit reporting agencies EXCEPT
Equifax
ExpressCredit
TransUnion
Experian
9
To get a credit report when you start using credit, go to:
yoyohoneycredit.com
checkmyscore.com
debtisawayoflife.com
annualcreditreport.com
10
Upon signing a credit card or loan application, you are entering into
an informal agreement
a contract
a casual financial relationship
deep doo doo