Page 1 of 65
GEB 3006 EXAM QUESTIONS AND CORRECT DETAILED
SOLUTIONS LATEST UPDATED
Question: You should try to achieve a FICO score of at least ____ in order to receive a top credit
rating.
A. 840
B. 940
C. 640
D. 740 - ANSWER✔✔D. 740
Question: Having mortgage debt is generally considered better than having credit card debt.
-True
-False - ANSWER✔✔True
Question: It is illegal for an employer to review your credit report as part of the application
process.
-True
, Page 2 of 65
-False - ANSWER✔✔False
Question: Insurance companies are allowed to review and consider your credit score before
quoting a premium.
-True
-False - ANSWER✔✔True
Question: In general, applying for and receiving new credit cards will tend to decrease your
FICO score.
-True
-False - ANSWER✔✔True
Question: Debit cards have fewer protections if lost compared to credit cards, but credit cards
can result in significant financial difficulties for individuals who misuse the card and incur credit
card debt.
-True
-False - ANSWER✔✔True
, Page 3 of 65
Question: It is generally a good idea to co-sign a loan for another individual in the event they
do not qualify for loan.
-True
-False - ANSWER✔✔False
Question: Consumers are allowed by law to receive a free copy of their credit report twice a
year from each of the three credit reporting agencies.
-True
-False - ANSWER✔✔False
Question: One of the best investments you can make is paying down high interest rate credit
card debt. Essentially you are receiving a high after tax return risk free.
-True
-False - ANSWER✔✔True
, Page 4 of 65
Question: Incurring significant amounts of student debt will impact your future borrowing
power for a home or car loan.
-True
-False - ANSWER✔✔True
Question: If we experience a rapid increase in inflation, the Federal Reserve would likely
________ interest rates.
A. Decrease
B. Maintain
C. Increase - ANSWER✔✔C. Increase
Q;UCF's college of Business helps students 'Get to the One' by providing students with various
resources in the college that will come to me
-True
-False - ANSWER✔✔True
GEB 3006 EXAM QUESTIONS AND CORRECT DETAILED
SOLUTIONS LATEST UPDATED
Question: You should try to achieve a FICO score of at least ____ in order to receive a top credit
rating.
A. 840
B. 940
C. 640
D. 740 - ANSWER✔✔D. 740
Question: Having mortgage debt is generally considered better than having credit card debt.
-True
-False - ANSWER✔✔True
Question: It is illegal for an employer to review your credit report as part of the application
process.
-True
, Page 2 of 65
-False - ANSWER✔✔False
Question: Insurance companies are allowed to review and consider your credit score before
quoting a premium.
-True
-False - ANSWER✔✔True
Question: In general, applying for and receiving new credit cards will tend to decrease your
FICO score.
-True
-False - ANSWER✔✔True
Question: Debit cards have fewer protections if lost compared to credit cards, but credit cards
can result in significant financial difficulties for individuals who misuse the card and incur credit
card debt.
-True
-False - ANSWER✔✔True
, Page 3 of 65
Question: It is generally a good idea to co-sign a loan for another individual in the event they
do not qualify for loan.
-True
-False - ANSWER✔✔False
Question: Consumers are allowed by law to receive a free copy of their credit report twice a
year from each of the three credit reporting agencies.
-True
-False - ANSWER✔✔False
Question: One of the best investments you can make is paying down high interest rate credit
card debt. Essentially you are receiving a high after tax return risk free.
-True
-False - ANSWER✔✔True
, Page 4 of 65
Question: Incurring significant amounts of student debt will impact your future borrowing
power for a home or car loan.
-True
-False - ANSWER✔✔True
Question: If we experience a rapid increase in inflation, the Federal Reserve would likely
________ interest rates.
A. Decrease
B. Maintain
C. Increase - ANSWER✔✔C. Increase
Q;UCF's college of Business helps students 'Get to the One' by providing students with various
resources in the college that will come to me
-True
-False - ANSWER✔✔True
