Dave Ramsey - Chapter 4 Review

Predatory lenders use all of the following to prey on desperate people except . . .

• Unfair practices

• Deceptive tactics

• Truthful logic

• Fraudulent info

Which of the following is not factored into the loan payment on a new car?

• Term

• Interest

• Principal

• Equity

A clothing store credit card is an example of what type of debt?

• Installment Credit

• Revolving Credit

• Personal Loan

• Lien

With a debit card, you can do everything you can do with a credit card except what?

• Rent a car

• Stay at a hotel

• Go into debt

• Fly on an airplane

Which of these is not one of the main credit bureau reporting agencies?

• Identifax

• Equifax

• TransUnion

• Experian

Checking your credit report regularly can help you spot signs of ______.

• Who is looking at your credit score

• Having too many loans

• Identity Theft

• None of these

The first step of the debt snowball method is to list all your debts _______.

• in the order you obtained them

• smallest to largest

• by importance

• largest to smallest

When you fail to repay a loan on time, you're referred to as being ______.

• a bad loan risk

• a loser

• in negative equity

• in default

When an asset loses value over time, that's _____.

• Depreciation

• Negative Equity

• Lowering Interest

• Loan Default

Making fixed payments on a loan over a set period of time is an example of ______.

• Revolving Credit

• Debt

• Installment Credit

• Term