FDIC New

You can increase your chances of being approved for a loan by improving which of these (choose two):

• Your capacity
• b. Your capital gains
• c. Your credit/character
• d. Your creditors
• e. All of the above

Most loans are set up the same, so it is not important to shop around.

• True
• False

Federal Truth in Lending Act or TILA disclosures can help you compare loan options from different lenders.

• True
• False

If someone helps you manage your money, you are not eligible to borrow money

• True
• False

You don’t need to understand your debt, as long as the company you owe money to sends you the paperwork.

• True
• False

All debt works the same way.

• True
• False

There are different approaches for reducing debt.

• True
• False

Which of these statements about debt is true? Choose two that are true.

• a. It obligates your future income
• b. Going into debt to pay for something usually costs more money than
• paying in cash
• c. Having debt does not affect your credit
• d. All of the above

Which of these is one of your rights in debt collection?

• a. Not to be sued if you tell a debt collector to stop contacting you
• b. To have the debt cancelled if you don’t have the money to repay it
• c. Not to be called at inconvenient times or places, such as before 8:00 am
• or after 9:00 pm, unless you agree to it
• d. All of the above

You may be charged a penalty annual percentage rate (APR) if:

• a. You have less than the minimum balance in your account
• b.You pay your credit card bill late
• c. You request an increase in your credit limit
• d.All of the above
• e. None of the above