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WorksheetsFL_Post Test Review #2
Total questions: 15
Worksheet time: 8mins
A credit card's Penalty APR is the interest rate charged
when penalty terms are triggered
during introductory period
on penalty transactions
due to prime rate changes
It is lawful for creditors to ask you for
a list of assets
your name
your employment history
all of these
Salary, location and environment, and benefits are factors to consider when
estimating annual income
determining cost of living expenses
researching future career opportunities
evaluating a job offer
After a vehicle accident, you pay the first $500 of the repair bill because
you reached the policy limit
insurance company will reimburse you
you didn't report the accident quickly
your policy's deductible is $500
Which results in a negative credit history?
Paying bills on time
Applying for credit many times in a short period
Holding low number of store credit cards
Having a criminal record
The beneficiary of a life insurance policy is the individual who
sold the insurance policy
purchased the insurance policy
receives any proceeds/money
executor of insured's estate
The amount of your take-home pay is also known as:
net pay
gross pay
deductions
optional deductions
How can a cardholder avoid paying interest on a credit card?
pay balance in full each month
pay minimum balance every month
always pay interest
only use for balance transfers
Which expenditure is typically the largest portion of one's income?
food
entertainment
housing
transportation
Gym membership, flexible hours and childcare are example of:
fringe benefits
job perks
work incentives
competitive hiring practices
Which is a variable cost of car ownership?
car payment
gas and oil
insurance
license fee
Goals are most likely to be accomplished if an individual
thinks about their goals
tells a friend their goals
lets his/her parents set goals
writes their goals down
Which would be cause for alarm in a lease?
Landlord enters with advance notice for routine maintenance
Landlord evicts tenant without any notice
Landlord charges fee for late rent payment
Landlord uses security deposit for severe damages
What should you do if you are the victim of identity theft?
file a police report
contact one of the credit reporting agencies
leave your account open
all of the above
To develop a positive credit history:
pay cash for most purchases
maintain reasonable amounts of unused credit
pay phone and utilities on time
open credit accounts in parent's names
