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CTC301 – Unit 7 Assignment – Financial Literacy

CTC301 – Unit 7 Assignment – Financial Literacy

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  • Question 1

5 out of 5 points

Which of the following is NOT a skill to being financially fit?
Selected Answer:

Sharing your ID with others

 

  • Question 2

    5 out of 5 points

    The 70-20-10 Rule sets aside…
    Selected Answer:

    70% living expenses, 20% savings, 10% debt

     

  • Question 3

    5 out of 5 points

    A good credit score sits at a level of about…
    Selected Answer:

    740-800

     

  • Question 4

    5 out of 5 points

    Your credit rating is determined based on…
    Selected Answer:

    Both A and B.

     

CTC301 – Unit 7 Assignment – Financial Literacy

  • Question 5

5 out of 5 points

Which of the following is the most common way to steal someone’s identity?
Selected Answer:

All of the above

  • Question 6

    5 out of 5 points

    What is one thing that does NOT make up a FICO credit score?
    Selected Answer:

    Old Credit Rates

     

  • Question 7

    5 out of 5 points

    When budgeting, you have the ability to spend more than you earn.
    Selected Answer:

    False

  • Question 8

    5 out of 5 points

    Identity theft is not a common occurrence, and only takes a little bit of time to recover.
    Selected Answer:

    False

  • Question 9

    5 out of 5 points

    Equifax, Experian, and TransUnion are the three major credit bureaus that allow you to check your credit reports.
    Selected Answer:

    True

  • Question 10

    5 out of 5 points

    Identity theft has the possibility to hurt your future job opportunities.
    Selected Answer:

    True

  • Question 11

    5 out of 5 points

    Some tips to achieve financial wellness include creating a budget, saving for potential emergencies in the future, and protecting your credit score.
    Selected Answer:

    True

  • Question 12

    5 out of 5 points

    [Check all that apply] Tips for Achieving Financial Wellness are:
    Selected Answers:
    Keep Good Financial Records
    Protect your Credit
    Get Tax Advice

  • Question 13

    5 out of 5 points

    Your obligation as a borrower is to choose to default on your loan.
    Selected Answer:

    False

  • Question 14

    5 out of 5 points

    Identification Theft can leave you with a criminal record and/or get you arrested.
    Selected Answer:

    True

CTC301 – Unit 7 Assignment – Financial Literacy

  • Question 15

5 out of 5 points

What is wrongful or criminal deception intended to result in financial or personal gain?
Selected Answer:

Fraud

  • Question 16

    5 out of 5 points

    580 is a good credit score
    Selected Answer:

    False

  • Question 17

    5 out of 5 points

    You should strive to spend more than you make.
    Selected Answer:

    False

  • Question 18

    5 out of 5 points

    What is the name of the company that Post University has partnered with that is a division of National Student Loan Program (NSLP), to provide you with FREE assistance on your Federal student loan obligations to ensure successful, and comfortable loan repayment?
    Selected Answer:

    Inceptia

  • Question 19

    5 out of 5 points

    Based on the estimated monthly student loan payment slide and a $35,000 debt with a 6.8% fixed interest rate, what is the total paid interest for an extended repayment plan?
    Selected Answer:

    $37,878

  • Question 20

    5 out of 5 points

    The Department of Education has an interactive loan counseling tool called the Federal Student Loan Website.
    Selected Answer:

    False