Economics FoolProof Module 1 & 2 |
100% Correct Answers | Verified | Latest
2024 Version
T/F: Most online financial institutions & businesses will regularly send you emails asking you to update
your account information by going to a link in their email. - False
If you mismanage your checking a...
Economics FoolProof Module 1 & 2 |
100% Correct Answers | Verified | Latest
2024 Version
T/F: Most online financial institutions & businesses will regularly send you emails asking you to update
your account information by going to a link in their email. - ✔✔False
If you mismanage your checking account by bouncing checks repeatedly or ignoring overdraft notices,
which of the following results may happen to you? - ✔✔All of the above
Which answer applies to "fine print"? - ✔✔- Fine print is usually where virtually all the important
information is located.
- You should always read the fine print.
- The fine print is always the print you want to ignore.
- Many companies like fine print because you can be confused by it, & make the wrong decision.
You owe $1,000 on a credit card & choose to pay the minimum payment each month. Which answer is
correct? - ✔✔- Credit card companies love you when you only make minimum payments. Why? You're
throwing your money away by paying extra interest each month.
- Making minimum payments means it could take thirty or forty years to pay off that $1,000 credit card
bill.
Having a bad credit history impacts every one of these items but one. Which is the one item not
impacted by bad credit history? - ✔✔The fact that I am a good person.
What statement is TRUE about "phishing scams"? - ✔✔Phishing scams cannot hurt you if you do not
respond to them.
What answer best describes a Nigerian scam? - ✔✔Nigerian scammers nearly always want you to send
money back to them.
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