CHST 112 FINAL TEST WITH VERIFIED QUESTIONS AND ANSWERS
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Course
CHST 112
Institution
CHST 112
CHST 112 FINAL TEST WITH VERIFIED QUESTIONS AND ANSWERS
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_______ make up 20% of the credit score. (each making up 10%) - Answer-new credit and types of credit used
/.____________ ______________, which includes physical, sexual, and psychological abuse, as well as neglect, abandonment, ...
_______ make up 20% of the credit score. (each making up 10%) - Answer-new credit
and types of credit used
/.____________ ______________, which includes physical, sexual, and psychological
abuse, as well as neglect, abandonment, and financial exploitation, affects over five
million Americans each year. - Answer-elder abuse
/.________________ is issued to a creditor when a debtor and creditor agree that a
debt is owed. Amount is verified by a judge for legal purposes. - Answer-Consent
/.3 elements financial counseling meeting spaces should have: - Answer-1. Privacy
2. Uninterrupted attention
3. Hospitality
/.4 goals achieved by a good action plan - Answer-1. Give members a specific list of
steps to complete
2. State when members will take each step
3. Make it possible for members to address and solve specific financial problems.
4. Helps members learn how to develop additional action plans alone to solve future
problems.
/.A ____ is a cautionary flag placed on the credit file to notify lenders and others they
should take special precautions to ensure the individual's identity before extending
credit. - Answer-fraud alert
/.A _____ designates someone to stand in the place of someone to conduct their
businesses. - Answer-power of attorney
/.A _____ is based on a flat or level percentage of taxpayer income. (Everyone pays the
same percentage of income, but there is no limit on the amount of tax that may be paid
and no consideration given to other demands on the budget) - Answer-flat or level tax
/.A _____ tax charges the same percentage of the cost of a good or service, no matter
what the taxpayer earns. (Sales tax, gas taxes, and liquor taxes are examples) -
Answer-regressive
/.A _____ tax requires a taxpayer to pay more tax as their income increases. (Federal
and state income taxes are examples) - Answer-progressive
, /.A creditor option to recover an unpaid debt on secured property. - Answer-
Repossession
/.a method used to view all the forces in favor of or against a plan so a decision can be
made. Begins with stating a problem. - Answer-Force Field Analysis
/.A rule of thumb for education funding. - Answer-Rule of thirds
/.absolves the indemnified party from any payment for losses and damages incurred by
a third party - Answer-Idemnification
/.Allows borrower to seek better interest rates, repayment terms, and possibly reduce
monthly payments and total amount of student debt. - Answer-Student loan refinancing
/.Allows counselors to adjust their demeanor to match members and make physical
changes to achieve these adjustments. - Answer-Pacing and blending
/.An individual can contribute after-tax income to a ______, and they will pay no taxes
on the principal, earnings, dividends, or interest when the funds are withdrawn at
retirement. - Answer-roth IRA
/.An individual can contribute before-tax income to a ______, and they will pay taxes
when money is withdrawn. - Answer-traditional IRA
/.Appointee who legally speaks on behalf of incapacitated individual. - Answer-Durable
POA
/.Approach that helps to overcome barriers to communication about financial topics.
May overcome resistance by using humor, metaphors, or personal stories. - Answer-
Soft approach
/.Assigns a set amount to repaying debit each week or month. Amounts are reallocated
as debts are paid off. - Answer-Debt repayment plan
/.Associates wealth with self-worth. - Answer-Money status
/.Base savings. Members contribute to regularly and use for occasional expenses. -
Answer-Periodic savings
/.Benefits of saving - Answer-1. Easy to start
2. it adds up
3. less stress
4. empowering
5. goals within reach
/.By ______, insurers limit their exposure when losses occur. - Answer-Pooling risks
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