Get Good with Money Chapters 4-6

Get Good with Money Chapters 4-6

University

8 Qs

quiz-placeholder

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Get Good with Money Chapters 4-6

Get Good with Money Chapters 4-6

Assessment

Quiz

Life Skills

University

Practice Problem

Hard

Used 3+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first suggestion to pay down debt?

Identify your debt

Restructure your debt

Choose a pay down plan

Automate the pay down plan

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You can call your credit card company to see if they will negotiate a lower interest rate

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The first line of defense to pay off debt...

Refinance your home

Get a personal loan from a credit union

Do a balance transfer to a credit card with a temporary high interest rate

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Debt free= Wealth

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does "UM" stand for?

ummm, get somebody else to do it besides ME!

Universal Money

Unexpected Money

Unified Monetary Credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is never okay to completely pay off a credit card

True

False

It depends

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which credit score is the best?

670-739

800-850

1,000-1,150

1,906-1,908

8.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

IF you choose to cosign for a trusted friend, what steps should you take to protect your credit?

The borrower should sell or pay off the loan

You should apply for a cosigner release when the borrower is in good standing with the loan

Have the borrower refinance the loan in their own name