Question 1

Name and briefly discuss three tactics that an identity thief may use.

Accepted Answer

A)Shoulder surfing-standing close enough

Question 2

The Fair Credit Reporting Act requires credit bureaus to correct any erroneous information on your credit report.

Accepted Answer

A) True 
 B)False

Question 3

The personal cost of identity theft is difficult to measure,but calculating the financial cost is an easier task.

Accepted Answer

A) True 
 B)False

Question 4

TransUnion is not one of the three primary credit bureaus.

Accepted Answer

A) True 
 B)False

Question 5

The item that receives the most weight in the FICO credit scoring system is

Accepted Answer

A)  the amount of credit used each month. 
B)  credit payment history. 
C)  credit utilization. 
D)  credit inquiries. 
A)  the amount of credit used each month. 
B)  credit payment history. 
C)  credit utilization. 
D)  credit inquiries.

Question 6

Using a shredder to destroy personal data will protect you from shoulder surfing.

Accepted Answer

A) True 
 B)False

Question 7

Use the following two columns of items to answer the matching questions below:
-FTC

Accepted Answer

A) copying credit information from the magnetic strip on a credit card 
B) something you should install on your computer to protect you from hackers and worms 
C) Bsomething you should never carry in your wallet 
D) the federal agency that acts as a clearinghouse for all identity theft complaints 
E) obtaining information on a person's identity from discarded items 
A) copying credit information from the magnetic strip on a credit card 
B) something you should install on your computer to protect you from hackers and worms 
C) Bsomething you should never carry in your wallet 
D) the federal agency that acts as a clearinghouse for all identity theft complaints 
E) obtaining information on a person's identity from discarded items

Question 8

You should review your credit report from each credit bureau at least ________.

Accepted Answer

The answer of You should review your credit report from...

Question 9

Which of the following statements is not true regarding reviewing your credit report?

Accepted Answer

A)  You will be able to determine if any errors have been made so they can be corrected. 
B)  It will help determine if there are credit cards that you should apply for to improve your credit standing. 
C)  It will reveal the kind of information that lenders will consider when making a decision to extend credit. 
D)  It will reveal deficiencies that you can work to eliminate that will improve your credit rating. 
A)  You will be able to determine if any errors have been made so they can be corrected. 
B)  It will help determine if there are credit cards that you should apply for to improve your credit standing. 
C)  It will reveal the kind of information that lenders will consider when making a decision to extend credit. 
D)  It will reveal deficiencies that you can work to eliminate that will improve your credit rating.

Question 10

You can begin to build a credit history by using utility services.

Accepted Answer

A) True 
 B)False

Question 11

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Accepted Answer

A) True 
 B)False

Question 12

Funds provided by a borrower that will be repaid in the future,with interest,is credit.

Accepted Answer

A) True 
 B)False

Question 13

The proper use and control of credit is the best way to build a good credit history.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following federal agencies should always be notified in the event of identity theft?

Accepted Answer

A)  Federal Bureau of Investigation 
B)  Secret Service 
C)  Federal Trade Commission 
D)  Postal Inspection Service 
A)  Federal Bureau of Investigation 
B)  Secret Service 
C)  Federal Trade Commission 
D)  Postal Inspection Service

Question 15

The most important element in FICO credit scoring is your payment history.

Accepted Answer

A) True 
 B)False

Question 16

Excessive use of credit can impair your ability to save money.

Accepted Answer

A) True 
 B)False

Question 17

A ________ extends credit by providing a service and billing for the service at the end of the time period.

Accepted Answer

The answer of A ________ extends credit by providing a...

Question 18

Discuss the reasons why someone would wish to steal your identity.

Accepted Answer

To obtain money,goods,and serv

Question 19

Which of the following is the best rule to follow in shredding information?

Accepted Answer

A)  If you have any question, shred it. 
B)  Shred anything with your name and address on it received through the mail. 
C)  Shred only items received from your bank or brokerage firm. 
D)  Shred any item received that is first class mail. 
A)  If you have any question, shred it. 
B)  Shred anything with your name and address on it received through the mail. 
C)  Shred only items received from your bank or brokerage firm. 
D)  Shred any item received that is first class mail.

Name and briefly discuss three tactics that an identity thief may use.

The Fair Credit Reporting Act requires credit bureaus to correct any erroneous information on your credit report.

The personal cost of identity theft is difficult to measure,but calculating the financial cost is an easier task.

TransUnion is not one of the three primary credit bureaus.

The item that receives the most weight in the FICO credit scoring system is

Using a shredder to destroy personal data will protect you from shoulder surfing.

Use the following two columns of items to answer the matching questions below: -FTC

You should review your credit report from each credit bureau at least ________.

Which of the following statements is not true regarding reviewing your credit report?

You can begin to build a credit history by using utility services.

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Funds provided by a borrower that will be repaid in the future,with interest,is credit.

The proper use and control of credit is the best way to build a good credit history.

Which of the following federal agencies should always be notified in the event of identity theft?

The most important element in FICO credit scoring is your payment history.

Excessive use of credit can impair your ability to save money.

A ________ extends credit by providing a service and billing for the service at the end of the time period.

Discuss the reasons why someone would wish to steal your identity.

Which of the following is the best rule to follow in shredding information?

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Health and Disability Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

Filters

Exam 7: Assessing and Securing Your Credit

Name and briefly discuss three tactics that an identity thief may use.

The Fair Credit Reporting Act requires credit bureaus to correct any erroneous information on your credit report.

The personal cost of identity theft is difficult to measure,but calculating the financial cost is an easier task.

TransUnion is not one of the three primary credit bureaus.

The item that receives the most weight in the FICO credit scoring system is

Using a shredder to destroy personal data will protect you from shoulder surfing.

Use the following two columns of items to answer the matching questions below: -FTC

You should review your credit report from each credit bureau at least ________.

Which of the following statements is not true regarding reviewing your credit report?

You can begin to build a credit history by using utility services.

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Funds provided by a borrower that will be repaid in the future,with interest,is credit.

The proper use and control of credit is the best way to build a good credit history.

Which of the following federal agencies should always be notified in the event of identity theft?

The most important element in FICO credit scoring is your payment history.

Excessive use of credit can impair your ability to save money.

A ________ extends credit by providing a service and billing for the service at the end of the time period.

Discuss the reasons why someone would wish to steal your identity.

Which of the following is the best rule to follow in shredding information?

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Health and Disability Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

Filters