Managing Financial Information Answers

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1
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Use the drop-down menus to complete the statements about credit reports and scores.

Answers:
A credit report summarizes a person’s .:credit activity
A credit score is a measure of a person’s as a borrower.:trustworthiness
is a factor that contributes to a person’s credit score.:Payment history
3

is a factor that contributes to a person’s credit score.

A
Future income
B
Investment risk
C
Payment history
4

Given Alex’s credit history, consider how the bank will likely view him.

Answers:
The bank is likely to consider Alex a borrower.:high-risk
As a result of his financial situation, Alex likely has a(n) credit score.:low
If he is granted the loan, his interest rate will most likely be than what others pay.:higher
5

Use the drop-down menus to complete the statements about minimizing debt and using your credit report.

Answers:
It is important to reduce your debt in order to your credit.:improve
Paying down a debt as quickly as possible can help interest owed.:reduce your debt
Checking your credit report can help you .:monitor your information
6

Use what you have learned about managing credit to complete the statements.

Answers:
One reason people choose to file bankruptcy is because some of their debt will be .:eliminated
A major consequence of bankruptcy is that it can an individual’s chances of receiving additional credit for .:harm
A major consequence of bankruptcy is that it can an individual’s chances of receiving additional credit for .:seven to ten years
8

Personal information should be .

A
easily accessible
B
kept safe and secure
C
shared with friends
9

high average✔ low

A
high
B
average
C
✔ low
10

decrease interest payments✔ monitor your informationreduce your debt

A
decrease interest payments
B
✔ monitor your information
C
reduce your debt
11

X help✔ harm

A
X help
B
✔ harm
13

✔ higherX lower

A
✔ higher
B
X lower
14

Checking your credit report can help you .

A
decrease interest payments
B
monitor your information
C
reduce your debt
15

a few monthsX up to five years✔ seven to ten years

A
a few months
B
X up to five years
C
✔ seven to ten years
16

Based on Lesley’s credit history, consider how the loan company will likely view her.

Answers:
Given her financial situation, Lesley is likely to be considered a borrower.:high-risk
The loan company is likely to Lesley’s loan application.:reject
17

Use the drop-down menus to complete the statements about protecting personal information.

Answers:
Personal information should be .:kept safe and secure
Michelle receives what appears to be an e-mail from her bank asking for her account and pin numbers. She should .:delete the e-mail
18

Based on Lesley’s credit history, consider how the loan company will likely view her.

Answers:
Given her financial situation, Lesley is likely to be considered a borrower.:high-risk
The loan company is likely to Lesley’s loan application.:reject
19

approve✔ reject

A
approve
B
✔ reject

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