Hello there, please I have a quiz and I need help.

Please don't answer the question if you are not sure about it.

Thank you so much.

1- Which is true when trying to get a loan?

a- The higher the risk, the lower the rate

b- The higher the risk, the higher the rate

c- The lower the risk, the higher the rate

d- The risk and rate are unrelated.

2- According to the Federal Reserve Bank, in 2014, the average household credit card debt was

a- $15,622

b- $5,765

c- $12,876

d- $20,143

3- What does APR stand for?

a- Automatic pay raises

b- Auto payment rates

c- Annual percentage rate

d- Annual pay rate

4- What is a grace period?

a- Time to think and pray

b- The amount of time you have to pay your bill in full before finance charges are activated

c- The amount of time you have before you have to pay your bill

d- It refers to the first late payment for which no late fee is charged

5- Which of the following credit card fees is charged once a year just for having a card?

a- Cash advance fee

b- Return item fee

c- Annual fee

d- Balance transfer fee

6- Interest rates on credit cards are

a- fixed.

b- variable.

c- fixed and/or variable.

d- none of the options are correct

7- The application used to determine financial need is called what?

a- FAFSA

b- SAFSA

c- AFFSA

d- FAASF

8- Predatory lending, lending money at an unreasonably high-interest rate, includes all of the following except

a- title loans.

b- subsidized loans.

c- payday loans.

d- rent-to-own.

9- What is the simplest, most common form of debt?

a- Credit cards

b- Student loans

c- Car loans

d- House loans

10- What is the term used to describe the state of having an outstanding balance on credit cards that is barely reduced over decades because a person is only making minimum payments and being charged a high annual percentage rate?

a- Perma-debt

b- Balance maintenance

c- Savings

d- Budget

11- Which of the following are credit reporting agencies?

a- Equifax

b- TransUnion

c- Experian

d- All of the options are correct.

12- Which indicator drives a FICO score the most?

a- Types of credit

b- How much you owe compared to your available credit

c- History of payments

d- Length of credit history

13- How many years does negative information stay on a credit report?

a- 5

b- 7

c- 11

d- 15

14- Which of the following is not a way to improve your credit score?

a- Catch up on missed payments

b- Open new accounts to show your creditworthiness

c- Pay bills on time

d- Keep credit card balances low

15- ______________ is when someone steals your personal information to commit theft or fraud.

a- Stealing

b- Identity theft

c- Phishing

d- Lying

16- What credit score number helps lower the interest rate and speed up credit approval in purchasing a home?

a- 600

b- 500

c- 800

d- 700