Having A Great Credit Score Will Make It Easier

Question: using a loan could help with the purchase of which of the following?

a) a new telivision

b) a dream wedding

c) a house

d) airline tickets to your dream vacation

Answer: c) a house

Question: When are loans a good option to use?

a) To pay for airline tickets to your dream vacation

b) When paying for higher education

c) To buy that new television

d) For a dream wedding

Answer: b) When paying for higher education

Question: What should you NOT use a loan to purchase?

a) A house

b) Tuition for higher education

c) Airline tickets to your dream vacation

d) A car

Answer: c) Airline tickets to your dream vacation

Question: Which item is important to consider when selecting a credit card?

a) Annual Percentage Rate (APR)

b) Fees

c) The look of the credit card

d) Both APR and fees

Answer: d) Both APR and fees

Question: Which of these items is NOT important to consider when selecting a credit card?

a) Annual Percentage Rate (APR)

b) The look of the credit card

c) Credit limit

d) Penalties and Fees

Answer: b) The look of the credit card

Question: Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when _____.

a) Choosing a financial advisor

b) Choosing a credit card

c) Looking at your credit score

d) Selecting a financial institution

Answer: b) Choosing a credit card

Question: What is NOT a benefit of having a good credit score?

a) When you need a loan, you’ll have more loan offers to pick from.

b) You’ll get better interest rates on your loans.

c) It will be easier to get an apartment.

d) You’ll get accepted to better education institutions.

Answer: d) You’ll get accepted to better education institutions.

Question: What is a benefit of having a good credit score?

a) Loan sharks will be less likely to bother you.

b) You’ll get accepted to better education institutions.

c) You’ll get more job offers.

d) When you need a loan, you’ll have more loan offers to pick from.

Answer: d) When you need a loan, you’ll have more loan offers to pick from.

Question: Having a great credit score will make it easier for you to get into a better educational institution.

a) TRUE

b) FALSE

Answer: b) FALSE

Question: Secured loans are less costly than unsecured loans because _________.

a) They usually have a lower interest rate.

b) They require collateral.

c) They are less risky for the financial institution.

d) All of these are true.

Answer: d) All of these are true.