Hallo, I have exam tomorrow and I need someone can help me with these 25 multiple chooses, Don't answer if you are not sure about it please 1. How

Hallo, I have exam tomorrow and I need someone can help me with these 25 multiple chooses, Don't answer if you are not sure about it please

1. How does Chapter 7 bankruptcy differ from Chapter 13 bankruptcy?

A) In a Chapter 13 bankruptcy, the debtor proposes a plan of reorganization to keep his or her assets and pay creditors over an extended time period

B) Chapter 7 is the quickest and simplest form of bankruptcy

C) Neither is correct

D) Both are correct

2. Which of the following are helpful in keeping your credit card rates and fees low?

A) All of the options are correct

B) Make every payment on time

C) Maintain a balance that is less than 30% of your credit line

D) Carefully read monthly statements for additional fees and read mail regarding adjustment notices

3.When purchasing a home, a real estate broker can help you do all of the following except

A) identify financing options

B) review your legal documents relating to title

C)help you find a lender

D)find companies to conduct inspections

4.If your credit limit is $2.500 and you charge $1,500 and pay back $700, what is the maximum amount you can charge? .

A) 500

B) $1,500

C) $1,700

D) $700

5 Which of the following are early warning signs of financial problems?

A) All of the choices are correct

B) Charging essentials like gas and groceries with a payday loan

C) Not having an emergency fund

D) Living paycheck-to-paycheck

6. Identify which item is not an advantage of buying a house versus renting.

A) Tax advantages

B) Maintenance

C) Increase in equity

D) All of the choices are correct

7.Olivia found herself in over $10,000 worth of credit card debt after she graduated from college. Most of her purchases on her credit cards came from purchases at the mall which included clothing, shoes, and purses. She also used her credit cards to finance her vacation to Mexico during spring break. Overwhelmed by her high credit card balances Olivia has decided she wants to start digging herself out of credit card debt. What is the first step she should take?

A) Stop using her credit cards

B) Stop buying things she cannot afford

C) Increase her income

D) Make realistic budget and use the envelope system

8.What credit score range helps to lower the interest rate and speed up your credit approval in purchasing a home?

A) 601-700

B) 500-600

C) 760-850

D) 701-759

9.If your goal is to maximize your return on investment, identify the least acceptable reason to borrow on the equity from your home

A) to remodel your house

B) to buy a car

C) to assist with the purchase of a second home

D) to pay for college

10.Ava decided to establish an emergency fund for herself. She established this fund by paying herself first" and transferring money out of each paycheck into her new savings account. She established her emergency fund at a bank that is different from her usual bank where she has her checking account. Ava's emergency fund.

A) has helped her establish a life-long habit to develop her financial security

B) gives her more time to think twice about using her emergency fund if she has to physically go to a different bank other than her checking account bank for access to her money

C) is a smart idea because having her emergency fund at a different bank makes it more difficult for her to gain access to her money and make a transfer

D) All of the choices are correct

11.All of the following can be found on your credit report with the exception of

A) your annual salary

B) the date an account was opened

C) payment history

D) recent balance and required payment

12 What does LTV stand for when buying a home?

A) Lease to value

B) Lowered time value

C) Loan to value

D) Loan times vestment

13 Which of the following are ways to improve a FICO score?

A) Open new credit cards

B) Pay bills on time and pay as agreed

C) Transfer balances to one credit card

D) All of the options are correct

14. What are the 5 Cs of the credit decision?

A) Character, capacity, collateral, capital, and conditions

B) Contacts, conditions, collateral, co-signer, and capacity

C) Cost, contacts, conditions, collateral, and capital

D) None of the options are correct

15.Mike, Therese, Tristan, and Elena want to improve their FICO credit score. Mike uses 10% of his credit limit, Therese uses 30% of her limit, Tristan uses 50% of his limit, and Elena uses 75% of her limit, who is improving their score the most?

A) Elena

B) Therese

C) Tristan

D) Mike

16. Elijah has three major purchases to pay off on his credit card. They are as follows: $1,000 at 10%, $500 at 15%, and $250 at 5%. How should he pay off his debts?

A) Pay them all sporadically until they're gone

B) Split the money to pay off the debts equally between all purchases

C) Pay off the lowest amount first

D) Pay off the highest amount first

17.What are the last two steps in the auto-purchase process?

A) Close the deal and complete after sale activities Close the deal and complete after-sale

B) Analyze needs versus wants and do my homework

C) Comparison shop and negotiate a deal

D)Do my homework and comparison shop

18.In stopping little financial leaks, what are the first things you need to sort out?

A) Giving vs. spending

B) Needs from wants

C) Ongoing bills vs one time payments

D) Bills from payments

19.Which student loan does not accrue interest during school?

A) Subsidized

B) Unsubsidized

C) No student loans accrue interest during school

D) Parent Plus

20. What is the 10-second rule?

A) If you drop an item in a store, it's still safe to pick it up after 10 seconds

B) Put an item in your cart and, if you don't want it after 10 seconds take it out

C) Hold an item for 10 seconds before you put it in your cart, asking yourself if you really need the item and, can afford to pay for it

D) All of the choices are correct

21.The act of lending money at an unreasonably high interest rate, thus making repaym excessively difficult or impossible for the borrowers, is the definition of

A) rollover

B) predatory lending

C) interest rate spread

D) usury law

22 Nick took out a home equity loan to consolidate his credit card debit. What should he do with his credit card?

A) Continue to use them but not as much

B) Charge everything

C) Don't use them until the home equity loan is repaid

D) All of the choices are incorrect

23.You spend $1.000 on your credit card, and the minimum payment is $10 a month. If you pay double the minimum payment, what will happen?

A) You will pay the debt off more quickly

B) You will end up in perma-debt

C) You will pay off the debt more slowly

D) None of the options are correct

24. Skimming" is when an identity thief

A) calls homes to try to collect personal information

B) swipes a copy of your credit card

C) looks through your trash

D) All of the options are correct

25. In the event that you fail to make a payment,_______ credit cards may take funds from your savings account.

A) platinum

B) revolving

C unsecured

D) secured