Choose the statement that describes an advantage of paying a bill through the mail with a check.
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Which is a possible benefit of having a good credit history?
What must Freya consider before using her debit card? Check all that apply.
Which questions should Freya answer before using a credit card? Check all thatapply.
In a few sentences, explain what it means to be financially responsible.
Being financially responsible means managing your money carefully. Spend less than you earn, use a budget to track income and expenses, and pay bills on time.
Which financial problems might cause a person to be considered a bad risk for a loan to purchase a home? Check all that apply.
Which expense is a bank least likely to extend a line of credit for?
Identify possible advantages and disadvantages of using automatic withdrawal to pay bills.
A benefit of using automatic withdrawals to pay bills is never making a late payment. A possible consequence of using automatic withdrawal to pay bills is possible overdraft charges if you don’t have enough money in the account when the payment is made. You need to remember the amount will be taken out and be sure there is enough money in the account.
You are a loan officer at a bank. An applicant comes to you for a $5,000 loan. Explain why you would want to know that person’s credit history.
I would review the applicant’s credit history to see whether they have repaid debts on time in the past. This helps me assess the risk that they may not repay the $5,000 loan and decide whether to approve it and what interest rate or terms to offer.
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