Banzai Human Services - Questions With Verified
Solutions
Why should you stay away from borrowing up to your credit limit? Right
Ans - Because it reflects poorly on your credit score.
How do you prevent identity fraud? Right Ans - You can't always, but you
can regularly check your credit report to look for unusual or unfamiliar
activity.
Which of the following deductions are you most likely to see on your pay stub?
Right Ans - Social Security deduction.
What is the main purpose of the double accounting method? Right Ans - To
record every transaction twice, reflecting a debit or a credit to accounts,
which will balance your budget.
Which of the following is considered a positive entry on your credit report?
Right Ans - You paid your credit card bill before the due date.
What's a "hard inquiry"? Right Ans - Any time a financial institution
requests your credit report for the purpose of extending more credit.
Which of the following is the most likely to appear on your credit report?
Right Ans - An unpaid parking ticket that went to collections.
What is a debt-to-income ratio? Right Ans - All of the above.
You carry liability coverage on your car and crash into a fence post. Are you
covered? Right Ans - Nope.
What percentage of a home price is typically required for your down payment
to avoid purchasing private mortgage insurance (PMI)? Right Ans - 20
percent
Which of the following puts you at the greatest risk for identity fraud and
theft? Right Ans - Using public WiFi to bank and shop online.
Solutions
Why should you stay away from borrowing up to your credit limit? Right
Ans - Because it reflects poorly on your credit score.
How do you prevent identity fraud? Right Ans - You can't always, but you
can regularly check your credit report to look for unusual or unfamiliar
activity.
Which of the following deductions are you most likely to see on your pay stub?
Right Ans - Social Security deduction.
What is the main purpose of the double accounting method? Right Ans - To
record every transaction twice, reflecting a debit or a credit to accounts,
which will balance your budget.
Which of the following is considered a positive entry on your credit report?
Right Ans - You paid your credit card bill before the due date.
What's a "hard inquiry"? Right Ans - Any time a financial institution
requests your credit report for the purpose of extending more credit.
Which of the following is the most likely to appear on your credit report?
Right Ans - An unpaid parking ticket that went to collections.
What is a debt-to-income ratio? Right Ans - All of the above.
You carry liability coverage on your car and crash into a fence post. Are you
covered? Right Ans - Nope.
What percentage of a home price is typically required for your down payment
to avoid purchasing private mortgage insurance (PMI)? Right Ans - 20
percent
Which of the following puts you at the greatest risk for identity fraud and
theft? Right Ans - Using public WiFi to bank and shop online.
