Question 1

TransUnion is not one of the three primary credit bureaus.

Accepted Answer

A) True 
 B)False

Question 2

Use the following two columns of items to answer the matching questions below:
-FTC

Accepted Answer

A)  copying credit information from the magnetic strip on a credit card
B)  something you should install on your computer to protect you from hackers and worms
C)  Bsomething you should never carry in your wallet
D)  the federal agency that acts as a clearinghouse for all identity theft complaints
E)  obtaining information on a person's identity from discarded items

Question 3

Which of the following is the best rule to follow in shredding information?

Accepted Answer

A)   If you have any question, shred it.
B)   Shred anything with your name and address on it received through the mail.
C)   Shred only items received from your bank or brokerage firm.
D)   Shred any item received that is first class mail.

Question 4

Name and briefly discuss three tactics that an identity thief may use.

Accepted Answer

A)Shoulder surfing-standing close enough...

Question 5

Using a shredder to destroy personal data will protect you from shoulder surfing.

Accepted Answer

A) True 
 B)False

Question 6

Excessive use of credit can impair your ability to save money.

Accepted Answer

A) True 
 B)False

Question 7

Discuss the reasons why someone would wish to steal your identity.

Accepted Answer

To obtain money,goods,and serv...

Question 8

Which of the following federal agencies should always be notified in the event of identity theft?

Accepted Answer

A)   Federal Bureau of Investigation
B)   Secret Service
C)   Federal Trade Commission
D)   Postal Inspection Service

Question 9

You can begin to build a credit history by using utility services.

Accepted Answer

A) True 
 B)False

Question 10

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Accepted Answer

A) True 
 B)False

Question 11

You should review your credit report from each credit bureau at least ________.

Accepted Answer

The answer of You should review your credit report from...

Question 12

The personal cost of identity theft is difficult to measure,but calculating the financial cost is an easier task.

Accepted Answer

A) True 
 B)False

Question 13

A ________ extends credit by providing a service and billing for the service at the end of the time period.

Accepted Answer

The answer of A ________ extends credit by providing a...

Question 14

The proper use and control of credit is the best way to build a good credit history.

Accepted Answer

A) True 
 B)False

Question 15

The item that receives the most weight in the FICO credit scoring system is

Accepted Answer

A)   the amount of credit used each month.
B)   credit payment history.
C)   credit utilization.
D)   credit inquiries.

Question 16

Which of the following statements is not true regarding reviewing your credit report?

Accepted Answer

A)   You will be able to determine if any errors have been made so they can be corrected.
B)   It will help determine if there are credit cards that you should apply for to improve your credit standing.
C)   It will reveal the kind of information that lenders will consider when making a decision to extend credit.
D)   It will reveal deficiencies that you can work to eliminate that will improve your credit rating.

Question 17

The Fair Credit Reporting Act requires credit bureaus to correct any erroneous information on your credit report.

Accepted Answer

A) True 
 B)False

Question 18

Funds provided by a borrower that will be repaid in the future,with interest,is credit.

Accepted Answer

A) True 
 B)False

Question 19

The most important element in FICO credit scoring is your payment history.

Accepted Answer

A) True 
 B)False

Exam 7: Assessing and Securing Your Credit

You should review your credit report from each credit bureau at least ________.

Correct Answer
verified

Which of the following is the best rule to follow in shredding information?

Correct Answer
verified

Excessive use of credit can impair your ability to save money.

Correct Answer
verified

The item that receives the most weight in the FICO credit scoring system is

Correct Answer
verified

Which of the following federal agencies should always be notified in the event of identity theft?

Correct Answer
verified

The Fair Credit Reporting Act requires credit bureaus to correct any erroneous information on your credit report.

Correct Answer
verified

A ________ extends credit by providing a service and billing for the service at the end of the time period.

Correct Answer
verified

Which of the following statements is not true regarding reviewing your credit report?

Correct Answer
verified

You can begin to build a credit history by using utility services.

Correct Answer
verified

Using a shredder to destroy personal data will protect you from shoulder surfing.

Correct Answer
verified

Use the following two columns of items to answer the matching questions below: -FTC

Correct Answer
verified

Funds provided by a borrower that will be repaid in the future,with interest,is credit.

Correct Answer
verified

The proper use and control of credit is the best way to build a good credit history.

Correct Answer
verified

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Correct Answer
verified

The most important element in FICO credit scoring is your payment history.

Correct Answer
verified

TransUnion is not one of the three primary credit bureaus.

Correct Answer
verified

Name and briefly discuss three tactics that an identity thief may use.

Correct Answer
verified
A)Shoulder surfing-standing close enough...
View Answer

The personal cost of identity theft is difficult to measure,but calculating the financial cost is an easier task.

Correct Answer
verified

Discuss the reasons why someone would wish to steal your identity.

Correct Answer
verified
To obtain money,goods,and serv...
View Answer

Exam 7: Assessing and Securing Your Credit

You should review your credit report from each credit bureau at least ________.

Correct AnswerverifiedShow Answer

Which of the following is the best rule to follow in shredding information?

Correct AnswerverifiedShow Answer

Excessive use of credit can impair your ability to save money.

Correct AnswerverifiedShow Answer

The item that receives the most weight in the FICO credit scoring system is

Correct AnswerverifiedShow Answer

Which of the following federal agencies should always be notified in the event of identity theft?

Correct AnswerverifiedShow Answer

The Fair Credit Reporting Act requires credit bureaus to correct any erroneous information on your credit report.

Correct AnswerverifiedShow Answer

A ________ extends credit by providing a service and billing for the service at the end of the time period.

Correct AnswerverifiedShow Answer

Which of the following statements is not true regarding reviewing your credit report?

Correct AnswerverifiedShow Answer

You can begin to build a credit history by using utility services.

Correct AnswerverifiedShow Answer

Using a shredder to destroy personal data will protect you from shoulder surfing.

Correct AnswerverifiedShow Answer

Use the following two columns of items to answer the matching questions below: -FTC

Correct AnswerverifiedShow Answer

Funds provided by a borrower that will be repaid in the future,with interest,is credit.

Correct AnswerverifiedShow Answer

The proper use and control of credit is the best way to build a good credit history.

Correct AnswerverifiedShow Answer

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Correct AnswerverifiedShow Answer

The most important element in FICO credit scoring is your payment history.

Correct AnswerverifiedShow Answer

TransUnion is not one of the three primary credit bureaus.

Correct AnswerverifiedShow Answer

Name and briefly discuss three tactics that an identity thief may use.

Correct AnswerverifiedA)Shoulder surfing-standing close enough...View AnswerShow Answer

The personal cost of identity theft is difficult to measure,but calculating the financial cost is an easier task.

Correct AnswerverifiedShow Answer

Discuss the reasons why someone would wish to steal your identity.

Correct AnswerverifiedTo obtain money,goods,and serv...View AnswerShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A)Shoulder surfing-standing close enough...
View Answer

Correct Answer
verified

Correct Answer
verified
To obtain money,goods,and serv...
View Answer