ECON POST-TEST LATEST 2024 STUDY
QUESTIONS WITH CORRECT ANSWERS
GUARANTEED PASS | RATED A+
What is a debt-to-income ratio? - Answer>>> The ratio of your debt compared to your annual
income.
Something that lenders lo
...
ECON POST-TEST LATEST 2024 STUDY
QUESTIONS WITH CORRECT ANSWERS
GUARANTEED PASS | RATED A+
What is a debt-to-income ratio? - Answer>>> The ratio of your debt compared to your annual
income.
Something that lenders look at on your credit report.
A percentage that helps lenders decide your ability to pay back a loan
You bought $230 in clothes and charged it to your credit card. What happens if you don't pay the
balance off by the end of the month? - Answer>>> You'll start to accrue interest on your credit
card balance.
You walk outside only to find that your car has been towed because you were parked illegally.
You paid the towing company with a check and took this unexpected expense from which
budget? - Answer>>> Reserves
You don't have dependents. Do you still need life insurance? - Answer>>> Yes; it can pay for
medical and funeral costs.
What would be the main benefit of paying in cash for a car instead of taking out a loan? -
Answer>>> You don't have to pay interest because you won't have a loan.
What does APR stand for? - Answer>>> Annual Percentage Rate
Which of the following is true about tax returns? - Answer>>> The number of exemptions you
declare will affect if and how much you get on your return.
What is a 401(k)? - Answer>>> An employer sponsored retirement plan where you contribute
some of your paycheck.
In order to qualify for a mortgage with good rates, you have to have a high enough . -
Answer>>> Credit score.
If you decide to rent a place to live, you'll need to sign a . - Answer>>> Lease
If you pay off only the amount owed on your credit card each month, but don't pay it off
completely, what's that called? - Answer>>> Making your minimum payment.
Your account statement arrived. You had a balance of -$52.79. After the $307.74 deposit from
Roland's Bookstore, what is your new account balance?
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