Financial Management Quarter 2

All of these are ways to better control your debt EXCEPT

• Get advice from professionals or organizations
• Make a list of everything you owe
• Prioritize your most important debts
• Use credit card to spend lots of money
• Make a personal budget

What is it called when there is debt created without any collateral promised to the creditor?

• Secured debt
• Unsecured debt
• Bankruptcy
• Insolvent
• Total assets

What is foreclosure?

• When an organization is unable to honor its financial obligations or make payment to its creditors
• When a portion of the borrower's paycheck goes to paying off the loan
• When the creditor would repossess the collateral and sell it
• When collectors can sue the borrower for a debt of any amount if they refuse to pay
• When the borrower’s home is taken by the lender because they aren’t making payments on the mortgage loan

All of these are actions creditors can take when individuals don't pay their loans EXCEPT

• Suing the borrower
• Repossession
• Foreclosure
• Blackmail
• Wage garnishment

What is it called when a person or business is unable to pay their debts?

• Secured debt
• Bankruptcy
• Total assets
• Debt consolidation
• Unsecured debt

All of these are warning signs of debt crisis EXCEPT

• Checks bouncing
• Debt collectors calling
• Friends and family distancing themselves
• Denied credit
• Overspending

When you make a mistake you should

• Attempt to hide the mistake
• Blame others
• Accept fault and seek to remediate the error
• Ignore it and move on
• Apologize but continue acting the same way

All of these make a good first impression except

• Showing excitement
• Helping your coworkers
• Keeping a good personal appearance
• Seeking advice and improvement
• Doing the minimum amount of work

For employer's the most important aspect they look at when hiring is

• Attitude
• Intelligence
• Financial status
• Physical strength
• Ethnicity

Which of the following is NOT on a checkbook register?

• Payment dates
• Check numbers
• Payment amounts
• Bank account balance
• Payee names