Managing Financial Information Answers

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1
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If the loan company does approve Lesley’s loan, what provision is likely to be part of the loan agreement?

A
Lesley will have to meet with a financial adviser.
B
Lesley will be required to submit a monthly credit report.
C
Lesley will have to pay a higher interest rate.
D
Lesley will default on the loan after one late payment.
122262
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Based on Lesley’s credit history, consider how the loan company will likely view her.

Answers:
Given her financial situation, Lesley is likely to be considered a borrower.:high-risk
The loan company is likely to Lesley’s loan application.:reject
122263

approve✔ reject

Answer not available
122265

Why is it important to check your credit history? Check all that apply.to track my current debtto determine whether I need a loanto ensure that the information is correctto monitor my credit scoreto decide which bills to payto plan for future investments

A
to track my current debt
B
to determine whether I need a loan
C
to ensure that the information is correct
D
to monitor my credit score
E
to decide which bills to pay
F
to plan for future investments
122266

How can Elizabeth most responsibly pay off her bill sooner?

A
by continuing to pay the minimum monthly payment
B
by paying it off with a different credit card
C
by taking out a personal loan from a bank
D
by paying more than the minimum payment each month
122267

What steps can Booker take to improve his credit score? Check all that apply.

A
make all of his loan and credit card payments on time
B
apply for more credit cards
C
check his credit history for accuracy
D
avoid making payments on his loans
E
find a second job to improve his income in order to pay off his debt more quickly
122268

What effects are Mary and Todd likely to face if they declare bankruptcy? Check all that apply.

A
They will find it hard to get new loans.
B
They will find it easier to buy a home, since their debt will have been eliminated.
C
They will get to keep their cars, but they will not have to make payments.
D
They will have to pay higher interest rates on any new credit cards they obtain.
E
They will have poor credit reports.
122282

Question text not available

Answer not available
122284

Why is it important to check your credit history? Check all that apply.

A
to track my current debt
B
to determine whether I need a loan
C
to ensure that the information is correct
D
to monitor my credit score
E
to decide which bills to pay
F
to plan for future investments
122285

How can Elizabeth most responsibly pay off her bill sooner?

A
by continuing to pay the minimum monthly payment
B
by paying it off with a different credit card
C
by taking out a personal loan from a bank
D
by paying more than the minimum payment each month
122286

What steps can Booker take to improve his credit score? Check all that apply.

A
make all of his loan and credit card payments on time
B
apply for more credit cards
C
check his credit history for accuracy
D
avoid making payments on his loans
E
find a second job to improve his income in order to pay off his debt more quickly
122287

What effects are Mary and Todd likely to face if they declare bankruptcy? Check all that apply.

A
They will find it hard to get new loans.
B
They will find it easier to buy a home, since their debt will have been eliminated.
C
They will get to keep their cars, but they will not have to make payments.
D
They will have to pay higher interest rates on any new credit cards they obtain.
E
They will have poor credit reports.

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