Debt and credit bootcamp exam
Borrow well, pay down fast and protect your score. This exam mixes questions from every lesson in the track. Each explanation links to the lesson it came from.
- Judge debt by its purpose, rate and total cost
1. Which two questions sort debt?
- Judge debt by its purpose, rate and total cost
2. A longer loan term usually means…
- Choose a debt payoff plan: avalanche or snowball
3. The avalanche targets…
- Choose a debt payoff plan: avalanche or snowball
4. The snowball targets…
- Compare debt consolidation without missing the fees
5. What should you compare between offers?
- Compare debt consolidation without missing the fees
6. What is the main consolidation trap?
- Use credit cards without carrying interest
7. What keeps the grace period?
- Use credit cards without carrying interest
8. Cash advances usually…
- Understand what moves your credit score
9. Which two factors carry most of a FICO score?
- Understand what moves your credit score
10. When is your card balance usually reported?
- Check your credit report and question errors
11. Where are free weekly reports from all three bureaus?
- Check your credit report and question errors
12. Does checking your own report lower your score?
- Protect your identity and know the recovery steps
13. Does a credit freeze cost money or lower your score?
- Protect your identity and know the recovery steps
14. Where do you report identity theft for a recovery plan?
- Respond to debt collectors with records and confidence
15. First step when a collector contacts you?
- Respond to debt collectors with records and confidence
16. How should you dispute a debt?
- Understand your student loan repayment options
17. Where do you see your federal student loans?
- Understand your student loan repayment options
18. Which loans usually have federal repayment plans?
- Compare car loans beyond the monthly payment
19. What should you negotiate first?
- Compare car loans beyond the monthly payment
20. Why get pre-approved?
- Decode your mortgage payment: principal, interest, taxes and insurance
21. What does PITI stand for?
- Decode your mortgage payment: principal, interest, taxes and insurance
22. Early mortgage payments are mostly…
Lesson tests in this bootcamp
- Judge debt by its purpose, rate and total cost
- Choose a debt payoff plan: avalanche or snowball
- Compare debt consolidation without missing the fees
- Use credit cards without carrying interest
- Understand what moves your credit score
- Check your credit report and question errors
- Protect your identity and know the recovery steps
- Respond to debt collectors with records and confidence
- Understand your student loan repayment options
- Compare car loans beyond the monthly payment
- Decode your mortgage payment: principal, interest, taxes and insurance