Housing Decisions, Credit, Borrowing Basics,
Frauds/Schemes
1/3 your monthly net income - ✔✔For a house to be considered affordable, housing costs, including
utilities, should NOT exceed which of the following?
2,000 square feet, three bedrooms, two bathrooms - ✔✔Which of the following describes features of
the average house?
30 - ✔✔The purchase of the first home often occurs when the head of household is around what
age?
419 fraud - ✔✔You receive an email from a woman claiming her father was poisoned by business
associates, but before his passing placed 12 million dollars in a secret account for her. To safely use
the money she must first move it to a bank account in another country. She is offering 15% of the
funds for your help. She asks you to wire funds to her in order to pay taxes that will release the
money. Which type of fraud is this an example of?
630 to 689 - ✔✔Which of the following credit scores are considered fair?
%
850 - ✔✔What is the highest credit score number?
A family which is expanding and has small children - ✔✔Which of the following describes an early
parenthood family?
a measure of the cost of credit; expressed as a yearly rate - ✔✔Which of the following defines APR?
A safe environment - ✔✔Which of the following is a right of tenants?
ability to acquire money, goods or services from others without immediate payment - ✔✔Which of
the following defines credit?
Accessibility - ✔✔Which of the following is a primary housing need of retirees?
Affinity fraud - ✔✔__________ prey(s) upon members of identifiable groups by using their affiliation
with the group
Affinity Fraud - ✔✔Minority groups, religious groups and community organizations are examples of
target groups for which type of scheme?
, Affordability - ✔✔Which of the following is a primary housing need of young single people and
newlyweds?
Annual Percentage Rate (APR) - ✔✔Which of the following is the annual or yearly rate charged for
borrowing or earning through an investment?
Ask about pet control, maintenance routines, etc. - ✔✔If you are inspecting an apartment, which of
the following is recommended?
At least every six months - ✔✔How frequently should passwords and pin numbers be changed?
Automobiles - ✔✔Which of the following is an example of an intermediate-term loan?
Bank Fraud - ✔✔__________ is obtaining property or money which does not belong to you from any
federally insured financial institution
Capacity - ✔✔In order to assess an individual's credit worthiness, five factors are reviewed. Which of
the following factors evaluates a person's income and household expenses?
checking accounts - ✔✔Which of the following is NOT a source of credit?
%
Collateral - ✔✔Which of the following requires the borrower to offer a securement to the lender, in
case they do not repay the loan?
Collateralized Loan - ✔✔Which of the following types of loan is issued when the borrower promises
an asset of equal or higher value for the loan?
Collateralized Statement - ✔✔Which of the following is NOT an impact of credit decisions?
Credit - ✔✔Which of the following is the issue of money, goods or services to an individual or entity
with the expectation of future payments?
Credit card - ✔✔Which of the following is an example of revolving credit?
Credit Card Fraud - ✔✔Skimming is a type of __________.
Credit Card Fraud - ✔✔Which type of fraud is the most common in society?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EXAMQA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
