Financial Planning Exam Preparation

Necessary for survival...

• want

• need

What kind of expenses do NOT occur every month?

• fixed

• variable

• periodic

What kind of expenses are the SAME amount every month?

• fixed

• variable

• periodic

What kind of expenses are DIFFERENT amounts but occur every month ?

• fixed

• variable

• periodic

Your credit score can be established or maintained by

(more than 1 correct answer)

• getting as many credit cards as possible

• paying bills in full

• paying bills on time

• limiting number of lines of credit

What is true about credit reports?

(more than 1 correct answer)

• they should be checked every year

• your credit score can be changed by writing a letter

• negative information stays for 7-10 years

• free reports can be obtained at your bank

Credit score range is...

• 1 - 10

• 150 - 950

• 100 - 1000

• 300 - 850

Which is NOT a credit bureau?

• Equifax

• ExpertsRus

• Experian

• TransUnion

Places where you can get credit are...

(more than 1 correct answer)

• car dealership

• bank/credit union

• gas station

• store

What is NOT an advantage of purchasing a new car?

• more features for a cheaper price

• builds equity/trade-in value

• lower interest rate

• underwarrenty/few repair bills at beginning