12 01 2. Putting away three months of income for unexpected expenses. A. cash flow statement B. emergency fund C. investment D. savings account 13 of 25 13. Illegal use of someone's credit card. A. universal default B. identity theft C. credit fraud D. criminal use 14 of 2 14. The 20 to 30 days you have to pay off your credit card in full to avoid interest. A. interest rate B. revolving credit C. universal default D. grace period 14 of 25 14. The 20 to 30 days you have to pay off your credit card in full to avoid interest. A. interest rate B. revolving credit C. universal default D. grace period 15 of 25 15. A person who purchases goods and services A. purchases B. shopaholic C. consumer D. opportunity cost 16 of 25 16. When you add up all outstanding debt and pay it off with this type of loan. A. line of credit B. consumer loan C. credit card D. loan consolidation 17 of 17. You divide your monthly income by what to get your rent budget? A. 27 B. 6 C. 4 D. 3 18 19 18 of 25 18. When you have more expenses than income. A. budget deficit B. variable expense C. budget surplus D. cash flow 19 of 25 19. If used wisely, this can help you in an emergency, or to establish a good credit score. A. pre-paid debit card B. credit card C. gift card D. debit card card 20 of 25 20. The amount of credit you will pay yearly on a loan. A. installment credit B. interest credit C. APR/annual percentage rate D. revolving credit 21 of 25 21. The cycle of money coming into your possession, and back out in the form of expenses. A. variable expenses B. budget C. fixed expenses D. cash flow 22 of 25 22. You divide your monthly income by what number to get your car budget A. 2 B. 4 C. 3 D. 6 23 of 25 23. When you have collateral, such as a building, or car to guarantee your loan. A. loan shark B. installment loan C. secured loan D. consumer loan 24 of 2 24. Protection from your creditors when you can no longer pay your bills. A. installment loan B. revolving credit C. universal credit D. bankruptcy 25 of 25 25. An open ended loan where you write checks, as needed, to make purchases. A. secured loan B. installment credit C. credit card D. line of credit