____ is a term used to describe an arrangement in which someone
receives goods, services, or money in exchange for a promise to repay
at a future date - ANSWER Credit
A negative use of credit would be to - ANSWER excessive spending
Which of the following is not one of the five C's of credit - ANSWER
Caution
A credit application is - ANSWER A form or interview that provides
information about your ability and willingness to repay debts
A credit bureau is - ANSWER A firm that collects and keeps records of
many borrowers' credit histories
When a lender considers a borrower's character, they are evaluating -
ANSWER track record of paying back debts
Which two federal agencies are primarily responsible for overseeing
consumer issues - ANSWER The Federal Trade Commission and The
consumer Financial Protection Bureau
Tino was looking at an advertisement for a credit card he was
considering. Which law requires that the advertisement include certain
information for comparing to other credit cards - ANSWER The Truth in
Lending Act
A credit history is - ANSWER a continuing record of a person's credit
usage and repayment of debts
A credit report is - ANSWER information compiled by a credit bureau
from merchants, utility companies, banks, court records, and creditors
about your payment history.
receives goods, services, or money in exchange for a promise to repay
at a future date - ANSWER Credit
A negative use of credit would be to - ANSWER excessive spending
Which of the following is not one of the five C's of credit - ANSWER
Caution
A credit application is - ANSWER A form or interview that provides
information about your ability and willingness to repay debts
A credit bureau is - ANSWER A firm that collects and keeps records of
many borrowers' credit histories
When a lender considers a borrower's character, they are evaluating -
ANSWER track record of paying back debts
Which two federal agencies are primarily responsible for overseeing
consumer issues - ANSWER The Federal Trade Commission and The
consumer Financial Protection Bureau
Tino was looking at an advertisement for a credit card he was
considering. Which law requires that the advertisement include certain
information for comparing to other credit cards - ANSWER The Truth in
Lending Act
A credit history is - ANSWER a continuing record of a person's credit
usage and repayment of debts
A credit report is - ANSWER information compiled by a credit bureau
from merchants, utility companies, banks, court records, and creditors
about your payment history.
