1.

A person's credit score can vary because the three bureaus have traditionally used differing means of calculating the score.

True

False

2.

An amount the buyer pays to the lending institution for the privilege of paying off a mortgage loan before it is due is a:

	A.	Sinking fund penalty
	B.	Prepayment penalty
	C.	Convertible penalty
	D.	Settlement penalty
	E.	Margin penalty

3.

A two-point charge on a $80,000 loan means that _______________ will deducted in advance, leaving the borrower _________________.

	A.	$1,600, $78,400
	B.	$1,600, $81,600
	C.	$200, $79,800
	D.	$2,000, $78,000
	E.	$20, $79,980

4.

Real estate can be a good investment tool for knowledgeable investors.

True

False

5.

An adjustable rate mortgage is one that has a specified rate of interest for a specified number of years.

True

False

6.

A budget provides peace of mind.

True

False

7.

Identity theft is one of the fastest growing white collar crimes in the United States.

True

False

8.

Speculation has the goal of spending money to accumulate financial assets with safety as an important concern.

True

False

9.

Debt consolidations are often very dangerous for consumers and are prohibited in various states.

True

False

10.

Chapter 13 bankruptcy is also known as _____________________.

	A.	the dismissal plan
	B.	the organization plan
	C.	the wage earner plan
	D.	the big mistake
	E.	the income plan