Chapter 4 Test

College students receive and average of four phone calls and five mailings each month encouraging them to:

Debt is a wise financial choice because of the rewards you get back

If you spread a myth long enough, what happens?

Everything that's said on tv and by media is true

Loaning money to a friend or a relative is helping them

It's always better to just give family money rather than expect it back

Banks require a co-signer because they know

Cash advance, rent to own, title pawning, and payday lending are services to lower income people to help them get ahead.

What percentage of millionaires started with nothing

Playing the lottery and other kinds of gambling will make you rich

If you're poor and you do rich people stuff, like saving and budgeting you'll

Dave describes some people who incorrectly believe that a "Dave car" must be

The questions of broke people are

The most expensive way to finance and operate a vehicle is

The term "upside down" when it comes to cars means:

The car payment is the mantra if the

A new car loses about 70% of its value in the first 4 years

Never taking out more than a ___ fixed rate mortgage

If you pay a $225,000 mortgage at 6% for 15 years rather than 30 years, you'll save $143,874

The first thing to go when life happens is

You can run a debit card as a credit card to get the same protection as a credit card

It's a myth that you need a credit card to rent a car or make a purchase online

You can do everything with a debit card that you can do with a credit card except

Consumers spend _____ a year on credit card penalties and fees

When you pay cash rather than swiping a card, you spend ____

Teenagers and kids are now ____ target of credit card companies

When McDonald's first went plastic, they saw that the average ticket order of $4.75_____ to _____

Consumer reports did a study that showed ____ if airline miles are never redeemed

Your largest wealth building tool is your

If you want to win, find ___ and mimic what they're doing

Debt can be occasionally used to create prosperity if you're careful

A broke finance professor is like a

According to 75% of the Forbes 400 list, the #1 key to wealth building is to

Kids are supposed to carry the burden of the household when it comes to debt

Statistics show that if a credit card company can be the first one to get their card in you hand, you'll ____ for the rest of your life

If you're trying to help out parents who are struggling, the best place is to start with an attitude of

Thirty five percent of how a Fico score is calculated is based on

You need to build up your credit to survive

The fico score is an "I love debt" score

It's possible to not have a fico score

When a theft occurs, you are libel for all the money that an identify thief used

About 80% of identities are stolen by people you know

It takes the average consumer about ____ hours to clean up the mess when their identity is stolen

The federal fair credit reporting act requires the credit bureau to remove any and all inaccuracies within _____ of being notified

A cool looking car isn't necessary for school

What myth do students believe about debt in college

There may be occasional reasons to go Into debt, like real emergencies

You have to build credit to survive

Most millionaires have become millionaires by

Opportunity:

The average car payment in the USA Today is

It is a myth that car payments are a way of life and you'll always have them

If you drive a car that your parents have a loan on

The birth of the credit card occurred around what year?

You get a new way of doing things from

The 1910 sears catalog said, "buying in credit is the best thing you can do"

Debt has been marketed to us for so long, most people struggle to imagine life without it