Which of the following are consequences of a low FICO credit score? (1) higher cost of debt (interest rate), as compared to someone with a higher credit score (2) less availability of credit, as compared to someone with a higher credit score (3) higher insurance premiums, as compared to someone with a higher credit score (4) required downpayment on loan may be more than person with higher credit score (5) may require a security deposit for utilities O 1, 4 and 5 O 3 and 5 O 1, 2, 3, 4 and 5 02 and 4 All but one of the following consumer protections are in place to safeguard consumers. Which statement is INCORRECT? O Your maximum charge for goods and services ordered with a credit card but not accepted by you nor delivered as promised is limited to $50. O You need to be given a 45-day notice before the credit card company can increase your fixed credit card rate bureaus. O Your liability for charges on a loss or stolen credit card is limited to $50. O Fraudulent use of your credit card will result in a higher interest rate. The Truth in Lending Act is an important consumer protection law. Three of the following statements adequately describe provisions of the Act. Which of the following protections is NOT specifically afforded by this statute? 0 The cost of credit must be less than the maximum rate, as defined by the Treasury Department o Credit terms must be disclosed in an easy to understand" language The cost of debt must be calculated in a standardized manner so that consumers can make an apples-to- apples comparison of costs O Total finance charges (e.g., application fees, late charges, interest rate and penalties) must be disclosed