WorksheetsPersonal Finance Ch. 8 Quiz
Total questions: 10
Worksheet time: 5mins
If you file for Chapter 7 Bankruptcy, you will have to sell most of your assets.
True
False
A mortgage is an example of closed-end credit.
True
False
Mr. Palacio has his car loan with Wells Fargo. Wells Fargo is referred to as a:
rent-to-own center
creditor
bureau
borrower
If you are getting many instances of credit card charges that are not yours and you are receiving debt collection calls/notices for bills that are not yours, what is the FIRST step you should do?
file an initial fraud alert with one or more credit bureaus
close your bank accounts
call the police
file a theft report with your utilities companies
A shorter term auto loan means _______ monthly payments and _______ total interest that you pay.
higher, less
lower, less
higher, higher
lower, higher
In a Chapter 13 bankruptcy, the debtor usually gets _______.
to keep most of their property
to discontinue alimony payments
forgiveness from paying most loans
stop payments on educational loans
An example of open-end credit is a(n) _______.
credit card
mortgage
student loan
automobile loan
If Kai files for Chapter 7 bankruptcy in 2022, it will remain on his credit report until:
2042
2032
2029
2037
In addition to Trans Union and Equifax, which is the other credit bureau?
Emporium
Transamerica
Vanguard
Experian
Everyone can receive a free credit report annually from:
GetMyCreditReport.com
AnnualCreditReport.com
CreditReport.gov
FreeCreditReport.com
