Economics Semester Exam

Front

Which of the following transactions would likely be difficult to make without a credit card? purchasing a car, buying groceries, reserving a hotel room, buying a house

Back

reserving a hotel room

Front

In the scenario where Tammi buys a stereo system for $500, withdraws $250 from her account, and obtains a loan from her parents for the rest, who is the debtor?

Back

Tammi

Front

The total dollar amount of all interest and fees you pay for the use of credit is called the

Back

finance charge.

Front

Which of the following is least likely to offer service credit? Options: the telephone company, a doctor's office, a furniture store, a dry cleaner

Back

a furniture store

Front

Credit reports are issued by

Back

credit bureaus.

Front

Which of the following might be included in your credit report? your marital status, your address, your occupation, all of the above can be included in your credit report

Back

all of the above can be included in your credit report

Front

Which of the following is NOT one of the three nationwide credit bureaus? CreditGuard, Equifax, Experian, TransUnion

Back

CreditGuard

Front

Which of the following is often the first step people take to establish a good credit record? Options: open a store credit account, apply for a car loan, apply for a credit card, open a savings account

Back

open a savings account

Front

Simon pays his bills on the due date or within a ten-day grace period. This would probably earn him a(n)

Back

good credit rating.

Front

________ expenses, such as rent and loan payments, are costs that do not change from month to month.

Back

Fixed