Common Financial Mistakes & Exam Review.pdf
How to find new balance ---answers 100%---Previous Balance +
Finance Charge + New Purchases - Payment
Credit Scores range from... ---answers 100%---300-850
The two main reasons for financial trouble are:(Choose two)
a-loss of income
b-overextension
c-defective goods and services
d-fraud ---answers 100%---Correct answer:
a&b
After getting a car repossessed, you can buy back the car by
paying the full amount owed on it, plus repossession expenses,
assuming the creditor has not sold it already.
True/False ---answers 100%---Correct Answer:
True
The two main reasons for financial trouble are:(Choose two)
a-loss of income
b-overextension
, c-defective goods and services
d-fraud ---answers 100%---Correct answer:
During a car repossession, the creditor has all of these rights
except...
A-Can seize the car as soon as you default
B-Tow your car away while you're at work or at odd hours of the
night
C-Can keep the car or resell it.
D-Keep or sell any personal property left in the car ---answers
100%---Correct answer:
D
Which two of these are warning signs of financial trouble?
(choose two)
a-you pay bills on time every month
b-you get a new loan to pay for old loans
c-you pay cash for everything you buy instead of credit or debit
cards
d-you don't know how much you owe and to whom ---answers
100%---Correct answer:
b&d
A debt collector MUST do which of the following (choose two)
A-hand you debt collector documentation in person after
confirming your identity verbally.
B-inform you, in writing, of the amount of your debt, the name of
the creditor, and an explanation of your right to dispute the debt.
How to find new balance ---answers 100%---Previous Balance +
Finance Charge + New Purchases - Payment
Credit Scores range from... ---answers 100%---300-850
The two main reasons for financial trouble are:(Choose two)
a-loss of income
b-overextension
c-defective goods and services
d-fraud ---answers 100%---Correct answer:
a&b
After getting a car repossessed, you can buy back the car by
paying the full amount owed on it, plus repossession expenses,
assuming the creditor has not sold it already.
True/False ---answers 100%---Correct Answer:
True
The two main reasons for financial trouble are:(Choose two)
a-loss of income
b-overextension
, c-defective goods and services
d-fraud ---answers 100%---Correct answer:
During a car repossession, the creditor has all of these rights
except...
A-Can seize the car as soon as you default
B-Tow your car away while you're at work or at odd hours of the
night
C-Can keep the car or resell it.
D-Keep or sell any personal property left in the car ---answers
100%---Correct answer:
D
Which two of these are warning signs of financial trouble?
(choose two)
a-you pay bills on time every month
b-you get a new loan to pay for old loans
c-you pay cash for everything you buy instead of credit or debit
cards
d-you don't know how much you owe and to whom ---answers
100%---Correct answer:
b&d
A debt collector MUST do which of the following (choose two)
A-hand you debt collector documentation in person after
confirming your identity verbally.
B-inform you, in writing, of the amount of your debt, the name of
the creditor, and an explanation of your right to dispute the debt.
