UGBA 135 past midterm Exam Questions with Answers UPDATED ACTUAL
Questions And Correct Answers
The most important factor in determining your FICO B
score is your:
A. Debt to credit ratio
B. Paying bills on time over time
C. Length of credit history
D. New accounts and recent applications for credit
The highest possible FICO score is: C
750
700
None of the above
800
, If you exceed your credit card limit by $15, your bank can C
charge you an over-the-limit fee of:
$35
$25
$15
Unlimited amount
To establish good credit you should: C
Pay cash for everything
Only use a debit card
None of the above
Avoid borrowing money
A prenuptial agreement is probably not valid if it is: C
None of the above
Not approved by a family court of law
Signed under duress
Not witnessed by a lawyer
If you have 3 credit cards each with a $1000 limit, and you B
have a
combined total of $1,000 of outstanding charges, your
debt to credit
percentage is about:
100%
33%
67%
50%
Which of the following is a good use of a security fund A
(also called
an emergency fund or a rainy day fund)?
To help you pay your bills if you lose your job
To purchase an iPhone if Apple comes out with a new
model
To take the place of health insurance
To pay for a vacation
If you think you are the victim of credit card theft, the first C
thing you
should immediately do is:
Notify the police
Contact the Federal ReserveContact the Consumer
Financial Protection
Agency
Contact your credit card issuer or its bank
Contact the Consumer Financial Protection Agency
Questions And Correct Answers
The most important factor in determining your FICO B
score is your:
A. Debt to credit ratio
B. Paying bills on time over time
C. Length of credit history
D. New accounts and recent applications for credit
The highest possible FICO score is: C
750
700
None of the above
800
, If you exceed your credit card limit by $15, your bank can C
charge you an over-the-limit fee of:
$35
$25
$15
Unlimited amount
To establish good credit you should: C
Pay cash for everything
Only use a debit card
None of the above
Avoid borrowing money
A prenuptial agreement is probably not valid if it is: C
None of the above
Not approved by a family court of law
Signed under duress
Not witnessed by a lawyer
If you have 3 credit cards each with a $1000 limit, and you B
have a
combined total of $1,000 of outstanding charges, your
debt to credit
percentage is about:
100%
33%
67%
50%
Which of the following is a good use of a security fund A
(also called
an emergency fund or a rainy day fund)?
To help you pay your bills if you lose your job
To purchase an iPhone if Apple comes out with a new
model
To take the place of health insurance
To pay for a vacation
If you think you are the victim of credit card theft, the first C
thing you
should immediately do is:
Notify the police
Contact the Federal ReserveContact the Consumer
Financial Protection
Agency
Contact your credit card issuer or its bank
Contact the Consumer Financial Protection Agency
