Ramsey Chapter 4 Review

Front

What does a credit score measure?

Back

How well you pay off debt

Front

Who pays the highest interest rates on credit cards?

Back

Young people

Front

What is your greatest tool for building wealth? Options: Your credit score, Credit cards, The stock market, Your Income

Back

Your Income

Front

Which type of loan requires collateral? Options: Unsecured loan, Secured loan, Revolving credit, Installment credit

Back

Secured loan

Front

Which is NOT part of the FICO score (credit scores)? Options: Debt payment history, Types of debt, Your income level, Amounts owed on debt

Back

Your income level

Front

Which of the following can you NOT do with a debit card? Rent a car, Book a hotel room, Reserve airline tickets

Back

Go into debt

Front

Making monthly payments on a car, but not owning the vehicle, is called:

Back

Leasing

Front

Why should you check your credit report?

Back

To check for errors or fraud

Front

Credit cards that offer fancy rewards usually:

Back

Charge annual fees

Front

Car leases usually charge a penalty if you: Drive too fast, Leave the state, Go over the mileage limit, Get the car dirty

Back

Go over the mileage limit