Personal Finance Semester Review part 3 (chapters 7-12)

Front

What does the $52.09 represent in the bill of $3,552.09 that Grace noticed?

Back

finance charges

Front

What does it mean that the value of David's sports car will depreciate over time?

Back

It means that the value of the car will decrease.

Front

What does Arjun and Aria's financial plan demonstrate?

Back

That they are financially responsible.

Front

Which category has the greatest impact on Paige’s credit score? Options: Her payment history, Her types of credit used, Her amounts owed, Her open accounts.

Back

Her payment history.

Front

Which situation would allow Paige to improve her credit score?
- Paige takes out a loan and does not make any payments.
- Paige decides to pay only cash for all of her purchases and bills.
- Paige uses a credit card and makes payments every other month.
- Paige ensures to pay her debts promptly on or before the due date.

Back

Paige ensures to pay her debts promptly on or before the due date.

Front

What has Curtis’s bank extended to him?

Back

A line of credit.

Front

What type of credit is Hank using by having the utilities connected to the house?

Back

Service credit

Front

Mason is planning to apply for a mortgage loan. What is typically considered as collateral for his loan?

Back

A house

Front

What does the $32.95 represent in Evelyn's credit card statement?

Back

A finance charge

Front

What is the first step that Harper should take to correct a duplicated charge on her credit card bill after a shopping spree?

Back

She should call the credit card company and notify them in writing.