Exam 2: Managing Your Financial Resources - Assessing,Managing and Securing Your Credit

Credit insurance will pay off all your credit card debt when you cannot work due to accident or illness.

Manipulating email viruses and host files to redirect users from legitimate commercial websites to bogus websites to obtain log-in names and passwords is referred to as

Which of the following is most accurate about second mortgages?

The best policy regarding credit is

The risk in co-signing on a loan for a friend is not significant,as you are not the primary borrower.

Credit card use can be good for your financial plan if you have budgeted to pay the entire balance when the statement is due.

Despite a high credit score,your income level may be the determining factor in whether you can get a loan.

You have the cash available to pay off a $6500 loan that will cost you $450 in interest this year and you are deciding whether to pay it off or make an investment.If you are in a 30 percent marginal tax bracket,how much interest would you have to earn to make the investment a better decision?

A credit bureau report may include

Explain how use of a credit card can affect the successful implementation of a financial plan.Itemize at least ten benefits and disadvantages of using credit cards in the financial planning process.

If a buyer has limited capital,leasing a car will usually require lower monthly payments than a car loan.

Someone with a poor credit rating might be offered a credit card with a 28 percent interest rate while someone with a high credit rating may be offered 21 percent.

Which of the following is true about credit bureaus in Canada?

Which of the following will have a negative effect on a credit history?

The proceeds from a home equity loan must be used for home improvements.

What would be the real cost of borrowing in the following case? A home equity loan is advertised at three percent compounded monthly,however,there is a legal fee of $400 and appraisal fee of $450 to set up the house as collateral.If Sarah needs to borrow $20 000 for one year,at which time will be able to repay the full amount,what is the effective rate of borrowing the $20 000 for the year?

What monthly payment (to the nearest dollar)would Dieter need to make on a $10000 loan with a nine percent interest rate compounded monthly and a three-year maturity?

If you are a victim of identity theft,you may be turned down for employment as a result of incorrect background information.

Identity thieves that obtain your information from the magnetic strip on your credit card are using a technique known as

Credit issued by deChapterment stores for relatively long periods of time is called non-installment credit.