Chapter 4 and 5 Personal Finance

Cards used to pay for things through debt.

• Credit Cards

• Mortgage

• Debit Cards

• Auto Loans

An appreciating asset _______ in value over time

• Decreases

• Increases

• Stays the same

Which source of credit does not have collateral?

• Mortgage

• Auto Loan

• Credit Cards

An example of revolving credit is

• Credit Cards

• Auto Loan

• Mortgage

• Student Loan

What sources of credit is the worse that you should avoid at all cost?

• Student Loans

• Predatory Lenders

• Mortgage

What does a lien apply to?

• Auto Loan

• Student Loan

• Mortgage

• Predatory Lenders

Which of these is an actual credit score?

• 100

• 200

• 550

• 1500

Which of these is an actual, bad credit score?

• 0

• 150

• 280

• 400

You can be financially well off without a credit score.

• True

• False

Which of these is revolving credit?

• Something that is owned that is offered as security.

• A loan for a fixed amount of time that is repaid in monthly installments.

• Credit that automatically renews whenever a payment is made to reduce the debt.

• Additional cost s lender charges for borrowing money.