ten and nine

Moat credit scores are based on a system of ratings called Fico - true

In many states, banks, creditors, student loans providers may view your credit report- true

Under bankruptcy, most debts are erased - true

Credit card purchases are a perfect example of an installment loan - false

Among the benefit of usng credit is that it build up your credit history and reduces the risk of overspending - false

Credit may increase your standard of living it also reduces you future spending and savings power - true

As long as you have good credit, it's not important to set spending limits when deciding… - false

Impuls buying occurs when you carefully consider a purchase - false

A savings account is a safe place to store your money, but typacally earn a low rate of intrest- true

Products loans usuall have lower interests rates than consumer loans because they are considered less risky - true

Compound interest allows your savings to grow at a more rapid rate - true

The only reason to save is to create an emergency fund to be used for unexpected bills or costs - false

Which of the following is not way for someone to improve their credit score - Apply for as many credit cards as possible to increase your credit score

Which of these is not a true statement about bankruptcy - it damages your credit 

Which of these forms of bankruptcy is also known as business reorganization - Chapter 11

Which type of credit requires that you have collateral - Secured loan

The difference between a person's credit liit and his/her credit balance is the persons - unused credit.

A credit card is which type of credit - Revolving credit

Property used as secured for a loan is - collateral

A person who loans money to another person is a - creditor 

Money charged for the use of borrowed money is called - intrest

Which of the following is not a true statement about credit - Credit is less expensive than paying cash

The third step in a buying plan is to - Research your options

A check written that has non sufficient funds to cover the amount of the check is called - a bounced check

Which of the following allows you to make point-of-sale purchases - A debit card

A check that is issued and guaranteed by a bank is called a - cashier’s check

Checks that have not yet cleared your account are - outstanding checks

Which is not a financial institution - the federal reserve