A person may be denied credit on the basis of his or

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A person may be denied credit on the basis of his or her: (a) gender (b) age (c) income (d) job ____18. The legal process of either reducing or eliminating credit is called: (a) credit counseling (b) bankruptcy (c) credit reporting (d) all the above ____19. A reputation for paying bills on time relates to a person’s: (a) character (b) capital (c) collateral (d) cosigner ____20. What are the three C’s of Credit: ________________,______________________,_______________ ____21. This act protects consumers against unauthorized use of credit cards: (a) Fair Credit Reporting Act (b) Equal Credit Opportunity Act (c) Fair Credit Billing Act (d) Truth-in-Lending Act of 1968 ____22. This is a form on which you provide information needed by a lender to make a decision about granting credit: (a) credit report (b) credit statement (c) credit application (d) background check ____23. This is an agency that attempts to collect money that is past due:_________________________. ____24. One of the characteristics that many successful people have in common is: (a) they have lots of money (b) their very cheap (c) their only out for themselves (d) maintain good and accurate records ____25. This is someone who discusses and suggests actions to take to reduce spending and eliminate credit difficulties_______________________________. ____26. What four steps can a person take if they cannot pay their bills: ___________________________, _________________,___________________________,___________________________________. ____27. This act requires prompt correction of billing mistakes. (a) Fair Credit Reporting Act (b) Fair Credit Collection practices Act (c) Fair Credit Billing Act (d) Equal Credit Opportunity Act ____28. Property offered as security for some loan agreement: (a) cosigner (b) collateral (c) capital (d) character ____29. This document shows the debts you owe, how often you use credit, whether you pay your debts on time: (a) credit application (b) credit statement (c) credit report (d) all the above
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  • Fall '12
  • EugeneGraziano
  • Business, Credit card, Credit rating, Fair Credit Reporting Act, Fair Credit Reporting, Fair Credit Billing

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