Career Finance Final

What is the lowest possible credit score?

• 0

• 300

• 350

• 550

What is the highest possible credit score?

• 750

• 800

• 700

• 850

What does APR stand for?

• Annual Percentage Rate

• Average Percentage Rate

• Annual Payment Record

• Average Payment Recieved

How is an individual's APR decided?

• Everyone has the same.

• How much money you make.

• How much money you spend.

• Your credit score and history.

How can you build credit as a high school student?

• Open a checking account.

• Invest in the stock market.

• Become an authorized user on a parent/guardian's card.

• Take out a car loan.

All of the following are ways to build credit except...

• Invest in the stock market.

• Pay all bills on time.

• Make full payments on debts.

• Establishing a steady work record.

Credit Cards...

• Are tied to your checking account.

• Must be paid back 24 hours after use.

• Are paid back at the end of a billing cycle.

• Are paid back exactly one week after use.

How old do you have to be to apply for a credit card on your own?

• 16

• 18

• 21

• 25

All of the following may gain access to your credit score EXCEPT...

• Job Interviewer

• Car Dealership

• College/University

• Apartment Landlord

If you are unable to meet the current payment deadline which of the following would be a good thing to do?

• Notify the creditor

• Take out a loan to cover the payment

• Let it carry over to the next month's bill

• File for bankruptcy