PFL FP Post-Test Mod 1

Most online financial institutions and businesses will regularly send you emails to update your account information by going to a link in their emails.

• True

• False

If you mismanage your checking account by bouncing checks repeatedly or ignoring overdraft notices, which of the following results may happen to you?

• You will be charged a penalty fee for a returned/bounced check

• You may pay higher rents or interest rates because of your poor credit history

• If you aren't aware of your "negative balance" and don't put more funds in you account you bounce more checks and receive more penalty fees.

• All of the above

Which answer applies to "fine print"?

• Fine print is usually where virtually all the important information is located.

• Fine print is always in bold print

• Fine print is what companies what you to read

• Fine print is the same size as regular print

Which answer applies to "fine print"?

• Companies only use fine print to save ink and paper

• You should always read the fine print

• You don't need to read the fine print

• Companies always place the fine print on the top of the page

Which answer applies to "fine print"?

• The fine print is always easy to understand

• The fine print can say the opposite of the big print

• The fine print is always the print you want to ignore

• The fine print doesn't mean anything legally.

Which answer applies to "fine print"?

• Companies like fine print because it makes it easy for you to understand what you are doing.

• Many companies like fine print because you can be confused by it, and make the wrong decision

• Companies like fine print because it is cheaper for them to print

• Companies like fine print because the fine print saves paper which is better for the environment

You owe $1000 on a credit card and choose to pay the minimum payment each month. Which answer is correct?

• Making minimum payments is the smart thing to do. I know this is true, since I asked the credit card company!

• Credit card companies love you when you only make minimum payments! Why? You're throwing your money away by paying extra interest each month.

• Making minimum payments is a great way to have more cash in your pocket

• Everyone pays the minimum payment.

You owe $1000 on a credit card and choose to pay the minimum payment each month. Which answer is correct?

• Making minimum payments means it could take thirty or forty years to pay off that $1,000 credit card bill.

• Making minimum payments means you're saving money

• Making minimum payments gives you the ability to buy more stuff with your credit card

• Making minimum payments doesn't cost me any more money over a long period of time.

Having a bad credit history impacts every one of these items but one. Which is the one item not impacted by bad credit history?

• Your ability to get a car loan or any other type of loan

• The fact that I am a good person.

• An employer's decision to offer you a job

• The interest rate offered to you

What statement is TRUE about "phishing scams"?

• They never happen to young people

• Parents never fall for phishing scams.

• The mess is easy to fix if you fall for a phishing scam

• Phishing scams cannot hurt you if you do not respond to them.