Question: A FICO score represents all of the following EXCEPT:

Answer: the amount of money in your retirement account.

Question: On average, compared to a person with good credit, a person with poor credit will pay ________ for insurance?

Answer: 20% to 50% more

Question: How long does it take to rebuild your credit history?

Answer: 7 years

Question: Secured debt means a lender gives you money in exchange for what?

Answer: Collateral

Question: Which type of debt is the least attractive for a consumer?

Answer: Unsecured debt

Question: When as asset, such as a car, decreases in value over time what is it called?

Answer: Depreciation

Question: If you miss one payment on a credit cared, what is generally the penalty?

Answer: A late payment fee

Question: If you miss two payments on a credit card, what is generally the penalty?

Answer: A higher interest rate and a late payment fee

Question: If you have $1,000.00 on a credit card and the interest rate is 23.7% per year, how much interest will you pay for one year?

Answer: $237.00

Question: How many monthly payments are there in a 30-year loan?

Answer: 360