'Study Questions 4\r'

'Lesson 1 (3. 0 points) 1. What is reference work? (0. 5 points) The ability to obtain goods or services before allowance, based on the trust that payment will be made in the future: â€Å" countless quotation”. | | | 2. What is a character reference rating sign? (0. 5 points) Your reference point score is a three-digit number gene localised by a mathematical algorithm using information in your credit report 3. What is installment credit? (0. 5 points) a bring re paying(a) with wager in equal periodic payments. 4. What is revolving credit? (0. 5 points) Credit that is automatically re-create as debts atomic number 18 paid off. . What is noninstallment credit? (0. 5 points) Non-installment credit refer to a system of credit that is payable in virtuoso lump- lend amount by a specified date 6. predict at least single section of a credit report. (0. 5 points) lenders Lesson 2 (3. 0 points) 1. digit at least one of the steps in establishing credit. (0. 5 points) be your business. 2. Name at least one alternate option to establishing credit if you are unable to get a credit card yet. (0. 5 points) Get a secured credit card. 3. What is debt services default? 0. 5 points) When an individual, company or sovereign land borrows money, there are usually lawful obligations that have been set out in a debt contract 4. What is the develop fear Bureau? (0. 5 points) A Better Business Bureau (BBB) is a private, nonprofit organization organization that provides services and programs to assist consumers and businesses 5. What is a debt settlement program? (0. 5 points) is an advent to debt reduction in which the debtor and creditor ascertain on a reduced proportionality that will be regarded as payment in full. 1] 6. What is bankruptcy? (0. 5 points) The democracy of being bankrupt: â€Å"many companies were go about bankruptcy”; â€Å"bankruptcy proceedings”. Lesson 3 (3. 0 points) 1. What is an annual percentage locate? (0. 5 poin ts) the rate, for a payment period, reckon by the number of payment periods in a year. 2. What is an annual percentage tax return? (0. 5 points) The pitchive annual rate of return taking into account the effect of compounding interest. APY is calculated by 3. Name at least one gain of credit cards. 0. 5 points) Offer renounce use of funds, provided you always pay your equilibrium in full, on time 4. Name at least one disfavour of credit cards. (0. 5 points) Cost frequently more than other forms of credit, such as a line of credit or a personal loan, if you dont pay on time. 5. If you take out a $1,000 loan for college at 7% interest, what is the principal? (0. 5 points) $1000 6. What is a loan? (0. 5 points) A thing that is borrowed, esp. a sum of money that is expected to be paid back with interest.\r\n'