Personal Finance Final Study Guide Part
1 Exam Question And Answers 2024
T/F Most online financial institutions and businesses will
regularly send you emails asking you to update your
account information by going to a link in their emails. -
correct answers✅False
What statement is TRUE about "phishing scams"? -
correct answers✅Phishing scams cannot hurt you if
you do not respond to them
What answer best describes a Nigerian scam? - correct
answers✅Nigerian scammers nearly always want you to
send money back to them.
What is FoolProof's definition of "looking like a fool"? -
correct answers✅Falling for anything which makes
companies and other people think you're too stupid or too
young to know better.
Do many companies like it when you look like a fool? -
correct answers✅Definitely! The job of many
companies is to make money, not to do what is right for
you... If you look like a fool, they make more money.
Vinnie (our friend in the video) had many credit cards,
and he did have fun with them! Then he nearly went
broke. What was the main thing Vinnie did wrong? -
,Personal Finance Final Study Guide Part
1 Exam Question And Answers 2024
correct answers✅He used one credit card to pay other
credit card bills.
T/F Native advertisers are required to show all sides of an
issue in articles they publish. - correct answers✅False
If you mismanage your checking account by bouncing
checks repeatedly or ignoring overdraft notices, which of
the following results may happen to you? [Tricky question:
read all answers.] - correct answers✅All of the above.
(1. You will be charged a penalty fee for a "returned"
(bounced) check. 2. You may pay higher rents or interest
rates because of your poor credit history. 3. If you aren't
aware of your "negative balance" and don't put more
funds in your account you bounce more checks and
receive more penalty fees.)
Which answer applies to "fine print"? - correct
answers✅Fine print is usually where virtually all the
important information is located.
Which answer applies to "fine print"? - correct
answers✅You should always read the fine print.
, Personal Finance Final Study Guide Part
1 Exam Question And Answers 2024
Which answer applies to "fine print"? - correct
answers✅The fine print can say the opposite of the big
print.
Which answer applies to "fine print"? - correct
answers✅Many companies like fine print because you
can be confused by it, and make the wrong decision.
You owe $1,000 on a credit card and choose to pay the
minimum payment each month. Which answer is correct?
- correct answers✅Credit card companies love you
when you only make minimum payments! Why? You're
throwing your money away by paying extra interest each
month.
You owe $1,000 on a credit card and choose to pay the
minimum payment each month. Which answer is correct?
- correct answers✅Making minimum payments means
it could take thirty or forty years to pay off that $1,000
credit card bill.
Having a bad credit history impacts every one of these
items but one. Which is the one item not impacted by bad
credit history? - correct answers✅The fact that I am a
good person.
1 Exam Question And Answers 2024
T/F Most online financial institutions and businesses will
regularly send you emails asking you to update your
account information by going to a link in their emails. -
correct answers✅False
What statement is TRUE about "phishing scams"? -
correct answers✅Phishing scams cannot hurt you if
you do not respond to them
What answer best describes a Nigerian scam? - correct
answers✅Nigerian scammers nearly always want you to
send money back to them.
What is FoolProof's definition of "looking like a fool"? -
correct answers✅Falling for anything which makes
companies and other people think you're too stupid or too
young to know better.
Do many companies like it when you look like a fool? -
correct answers✅Definitely! The job of many
companies is to make money, not to do what is right for
you... If you look like a fool, they make more money.
Vinnie (our friend in the video) had many credit cards,
and he did have fun with them! Then he nearly went
broke. What was the main thing Vinnie did wrong? -
,Personal Finance Final Study Guide Part
1 Exam Question And Answers 2024
correct answers✅He used one credit card to pay other
credit card bills.
T/F Native advertisers are required to show all sides of an
issue in articles they publish. - correct answers✅False
If you mismanage your checking account by bouncing
checks repeatedly or ignoring overdraft notices, which of
the following results may happen to you? [Tricky question:
read all answers.] - correct answers✅All of the above.
(1. You will be charged a penalty fee for a "returned"
(bounced) check. 2. You may pay higher rents or interest
rates because of your poor credit history. 3. If you aren't
aware of your "negative balance" and don't put more
funds in your account you bounce more checks and
receive more penalty fees.)
Which answer applies to "fine print"? - correct
answers✅Fine print is usually where virtually all the
important information is located.
Which answer applies to "fine print"? - correct
answers✅You should always read the fine print.
, Personal Finance Final Study Guide Part
1 Exam Question And Answers 2024
Which answer applies to "fine print"? - correct
answers✅The fine print can say the opposite of the big
print.
Which answer applies to "fine print"? - correct
answers✅Many companies like fine print because you
can be confused by it, and make the wrong decision.
You owe $1,000 on a credit card and choose to pay the
minimum payment each month. Which answer is correct?
- correct answers✅Credit card companies love you
when you only make minimum payments! Why? You're
throwing your money away by paying extra interest each
month.
You owe $1,000 on a credit card and choose to pay the
minimum payment each month. Which answer is correct?
- correct answers✅Making minimum payments means
it could take thirty or forty years to pay off that $1,000
credit card bill.
Having a bad credit history impacts every one of these
items but one. Which is the one item not impacted by bad
credit history? - correct answers✅The fact that I am a
good person.
