Personal Financial Literacy Review

Front

What is the maximum number of years that negative information can remain on a credit report?

Back

7 to 10 years

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How much more money would a person with a Master's degree earn than a person with a Bachelor's degree over a 20-year career?

Back

$258,960

Front

True or False: A bad credit report cannot affect my chances for getting a job.

Back

False

Front

What type of college payment option is awarded for maintaining excellent grades and performing well on standardized tests?

Back

A scholarship

Front

What is the average annual salary for individuals with 2-year vocational training?

Back

$52,000

Front

What is the average annual salary for individuals with a postgraduate degree?

Back

$76,000

Front

Calculate the difference in lifetime income over 30 years for individuals with 2-year vocational training and graduate degrees.

Back

$720,000

Front

What is a credit report?

Back

A credit report is a detailed report of an individual's credit history, including personal information, credit accounts, and payment history.

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What is a scholarship?

Back

A scholarship is a financial aid award given to a student based on academic or other achievements to help pay for education.

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What is the purpose of a credit score?

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A credit score is used by lenders to evaluate the creditworthiness of a borrower.