55135670-FP101-FP-101-Assignment-Final-Exam - Final...

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Final Assignment 1) When does repayment of a PLUS loan begin? A. 6 months after disbursement B. 6 months after graduation C. 9 months after graduation D. 2 months after disbursement 2) Which of the following is true about credit reports? A. A credit report does not list requests for your credit report. B. You always have to pay for a credit report C. There is only one credit bureau that provides credit reports D. You can get a free credit report by contacting a credit bureau. 3) Which of the following is true about student loans? A. All student loans are subsidized. B. All student loans are issued by the federal government. C. Rates on student loans tend to be more favorable than other types of consumer credit. D. You do not need to be a US citizen to obtain a loan from a federal program. 4) Which of the following is not a good reason to refinance a home mortgage? A. A reduction in the term of the mortgage
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B. Access to the equity in the home C. A reduction in the interest rate of at least 1 perccent D. A significant increase in the monthly payment. 5) Which of the following is not true about student loans? A. There are two types of student loans: subsidized or unsubsidized. B. You may qualify for a loan even if you are in default on another student loan. C. It is possible to defer payment on some student loans until after you graduate. D. They often carry lower interest rates than other types of loans or credit cards. 6) Which of the following is considered a sign of credit card debt trouble? A. You are at or over the limit on all of your credit card accounts B. Don’t use your credit cards to pay for regular expenditures C. You avoid credit cards with high interest rates D. You pay your credit card balances in full every month 7) Which of the following is not a good option if you recognize signs of credit trouble in yourself? A.
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This note was uploaded on 09/24/2011 for the course US101, COM us101 taught by Professor Rockyriviera,alcycia,christiansyphus during the Spring '11 term at University of Phoenix.

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55135670-FP101-FP-101-Assignment-Final-Exam - Final...

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