Chapter 9 Review TrueFalse 1 When you keep
- Slides: 11
Chapter 9 Review
True/False 1. When you keep good records, you have documentation that can help support your claim that a bill has an error or false charge 2. Consumers can file complaints related to consumer or credit fraud online at several government websites. 3. Bankruptcy is a state procedure that takes place in the state court system.
True/False 4. Bankruptcy damages a person’s credit rating and can prevent the person from getting good interest rates on loans 5. A cosigner is a person who guarantees the debt of another person. 6. A credit report contains no personal information such as date of birth or Social Security number.
7. Which of these laws gives you the right to know what is in your credit file? –Fair credit reporting act –Fair credit billing act –Truth-in-lending act –Equal credit opportunity act
8. Which of these laws requires that consumers be full informed about the cost of credit? – Fair credit reporting act – Fair credit billing act – Truth-in-lending act – Equal credit opportunity act
9. Which of these laws protects consumers from discrimination in credit policies? – Fair credit reporting act – Fair credit billing act – Truth-in-lending act – Equal credit opportunity act
10. Which of these forms of bankruptcy is known as the wage earner plan? – Chapter 11 – Chapter 7 – Chapter 13 – All of the above
11. With regard to credit, delinquency – Means an overdue debt – Is a situation you should try to avoid – Can hurt your credit rating – All of the above
12. A scam that uses e-mail messages that appear to be from real banks to get account information is called – Identity theft – Phishing – Credit card theft – All of the above
• Know some of the following terms: – Bankruptcy – Credit report – Debt consolidation – Recourse – garnishment
• Study hard • Relax • Review your notes and vocab and you’ll do fine.
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