WISE: Credit Exam Questions and Answers
with Verified Solutions | Latest Updated 2026
To qualify for a Federal Housing fulfill income guidelines.
Administration (FHA) loan, a
person
must generally
A person has three credit cards Notify the credit card companies in order to
with negotiate a new payment plan.
very large outstanding balances
and
is unable to make payments on
any
of them. Which action should the
person take?
When a person brings an item to a a collateralized loan.
pawnshop to obtain cash, the
transaction is considered
When a person declares for a 10 year period
bankruptcy
that fact will appear on the
person's
credit report
If you are denied credit based on Free copy of the credit report if you
your credit report, you are entitled request it
to a: within 60 days
, One of Andre's seldom-used credit $50
cards has been stolen without his
knowledge. When he gets his
monthly statement, he realizes
that
someone else has been using the
card and reports it stolen. The
maximum amount of the
unauthorized purchases he is he
liable for is:
Predatory lending practices do not A loan that you can afford with an interest
include which of the following: rate that
is the same as the interest rate being
charged by at
least three other financial institutions
When you mail your credit card Late, and the company will assess you a
payment on the due date, your late fee
payment will be considered:
When a borrower fails to repay a The co-signer will be held responsible for
loan and there is a co-signer on the
the repayment of the entire loan plus fees or
loan, the most likely result will be penalties.
You can continue to charge The amount you owe on the card is below
purchases on your credit card your
when: credit limit.
Consumer Credit Counseling Debt repayment plans
Services (CCCS) offer:
with Verified Solutions | Latest Updated 2026
To qualify for a Federal Housing fulfill income guidelines.
Administration (FHA) loan, a
person
must generally
A person has three credit cards Notify the credit card companies in order to
with negotiate a new payment plan.
very large outstanding balances
and
is unable to make payments on
any
of them. Which action should the
person take?
When a person brings an item to a a collateralized loan.
pawnshop to obtain cash, the
transaction is considered
When a person declares for a 10 year period
bankruptcy
that fact will appear on the
person's
credit report
If you are denied credit based on Free copy of the credit report if you
your credit report, you are entitled request it
to a: within 60 days
, One of Andre's seldom-used credit $50
cards has been stolen without his
knowledge. When he gets his
monthly statement, he realizes
that
someone else has been using the
card and reports it stolen. The
maximum amount of the
unauthorized purchases he is he
liable for is:
Predatory lending practices do not A loan that you can afford with an interest
include which of the following: rate that
is the same as the interest rate being
charged by at
least three other financial institutions
When you mail your credit card Late, and the company will assess you a
payment on the due date, your late fee
payment will be considered:
When a borrower fails to repay a The co-signer will be held responsible for
loan and there is a co-signer on the
the repayment of the entire loan plus fees or
loan, the most likely result will be penalties.
You can continue to charge The amount you owe on the card is below
purchases on your credit card your
when: credit limit.
Consumer Credit Counseling Debt repayment plans
Services (CCCS) offer:
