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GEB 3006 financial literacy exam study questions and answers

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GEB 3006 financial literacy exam study questions and answers

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2025/2026

Institution Financial Literacy

Course Financial Literacy

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GEB 3006 financial literacy exam study questions and answers

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GEB 3006 financial literacy exam
study questions and answers

financial goal - ANS ✔✔revenues > expenses

business - ANS ✔✔run your financial life like a:

saver and spender - ANS ✔✔the two personality types

3 months - ANS ✔✔how long of a time period should money be kept for emergencies

1/3 - ANS ✔✔how many Americans have 3 months worth of emergency funds saved?

10-15% - ANS ✔✔how much of your income should be kept for emergencies

true - ANS ✔✔Americans historically do not save enough money

exponentially - ANS ✔✔money grows -

until their 40's - ANS ✔✔when do most Americans begin saving their money

warren buffet - ANS ✔✔this man states that the biggest mistake people make is not starting to
save early enough

45+ - ANS ✔✔students have this long of a investment horizon

, Fair and Accurate Reporting Act - ANS ✔✔allows for free credit reports once a year from:

experian

transunion

Equifax

FICO - ANS ✔✔Fair Isaac Corporation

FICO - ANS ✔✔operates independently from the 3 credit agencies above

740 or above - ANS ✔✔the target FICO credit score range

300-850 - ANS ✔✔credit score ranges from -

718 - ANS ✔✔the average U.S. FICO credit score

65% - ANS ✔✔how much of your FICO score is related to your payment history & outstanding
debt

true - ANS ✔✔the long the credit history the better

target 30% or lower - ANS ✔✔improving my FICO score

good - ANS ✔✔having the right credit mix: mortgage debit

good - ANS ✔✔having the right credit mix: installment debt (auto)

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Uploaded on: October 20, 2025
Number of pages: 6
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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