10.Ava decided to establish an emergency fund for herself. She established this fund by paying herself first" and transferring money out of each paycheck into her new savings account. She established her emergency fund at a bank that is different from her usual bank where she has her checking account. Ava's emergency fund.

A) has helped her establish a life-long habit to develop her financial security

B) gives her more time to think twice about using her emergency fund if she has to physically go to a different bank other than her checking account bank for access to her money

C) is a smart idea because having her emergency fund at a different bank makes it more difficult for her to gain access to her money and make a transfer

D) All of the choices are correct

11.All of the following can be found on your credit report with the exception of

A) your annual salary

B) the date an account was opened

C) payment history

D) recent balance and required payment

12 What does LTV stand for when buying a home?

A) Lease to value

B) Lowered time value

C) Loan to value

D) Loan times vestment

13 Which of the following are ways to improve a FICO score?

A) Open new credit cards

B) Pay bills on time and pay as agreed

C) Transfer balances to one credit card

D) All of the options are correct

14. What are the 5 Cs of the credit decision?

A) Character, capacity, collateral, capital, and conditions

B) Contacts, conditions, collateral, co-signer, and capacity

C) Cost, contacts, conditions, collateral, and capital

D) None of the options are correct

15.Mike, Therese, Tristan, and Elena want to improve their FICO credit score. Mike uses 10% of his credit limit, Therese uses 30% of her limit, Tristan uses 50% of his limit, and Elena uses 75% of her limit, who is improving their score the most?

A) Elena

B) Therese

C) Tristan

D) Mike

16. Elijah has three major purchases to pay off on his credit card. They are as follows: $1,000 at 10%, $500 at 15%, and $250 at 5%. How should he pay off his debts?

A) Pay them all sporadically until they're gone

B) Split the money to pay off the debts equally between all purchases

C) Pay off the lowest amount first

D) Pay off the highest amount first