47. which of the following statements is true about credit scores? (1) income level is included in a…

47. which of the following statements is true about credit scores? (1) income level is included in a person’s credit score. (2) credit score will determine whether a person gets a loan and at what interest rate. (3) credit score is based on many features of a person’s credit report, including payment history, level of debt, and the length of time their accounts have been open. a. (1) b. (1)+(2)+(3) c. (2)+(3) d. (1)+(3) 48. which of the following is not a step to protect yourself from identity theft? a. destroy documents that contain personal information by shredding prior to discarding them. b. share your social security number with some relatives so that the information cannot be lost. c. order and check copies of your credit report from each of the three credit reporting agencies every year. d. do not provide personal information on the phone, through the mail, or over the internet unless you have initiated the contact or know the party requesting the information. 49. which of the following choices is not a reason that a person should develop a budget? a budget helps a person: a. track and analyze spending. b. make better spending decisions. c. reach savings goals. d. spend more than they make. 50. sally has begun to work at barbara’s grande burgers. which of the following institutions charges the highest fees to cash sally’s paycheck? a. bank b. check casher c. credit union d. grocery store

47. which of the following statements is true about credit scores? (1) income level is included in a person’s credit score. (2) credit score will determine whether a person gets a loan and at what interest rate. (3) credit score is based on many features of a person’s credit report, including payment history, level of debt, and the length of time their accounts have been open. a. (1) b. (1)+(2)+(3) c. (2)+(3) d. (1)+(3) 48. which of the following is not a step to protect yourself from identity theft? a. destroy documents that contain personal information by shredding prior to discarding them. b. share your social security number with some relatives so that the information cannot be lost. c. order and check copies of your credit report from each of the three credit reporting agencies every year. d. do not provide personal information on the phone, through the mail, or over the internet unless you have initiated the contact or know the party requesting the information. 49. which of the following choices is not a reason that a person should develop a budget? a budget helps a person: a. track and analyze spending. b. make better spending decisions. c. reach savings goals. d. spend more than they make. 50. sally has begun to work at barbara’s grande burgers. which of the following institutions charges the highest fees to cash sally’s paycheck? a. bank b. check casher c. credit union d. grocery store

Answer

Brief Explanations:

  • Question 47: Income level is not included in a credit - score calculation. Credit scores determine loan eligibility and interest rates and are based on credit - report features like payment history, debt level, and account age. So, statements (2) and (3) are true.
  • Question 48: Sharing your Social Security number with relatives is a risk for identity theft as it can be misused or fall into the wrong hands. The other options are valid identity - theft prevention steps.
  • Question 49: A budget is used to track spending, make better decisions, and reach savings goals, not to spend more than one makes.
  • Question 50: Check - cashers typically charge higher fees compared to banks, credit unions, and grocery stores for cashing paychecks.

Answer:

  1. c. (2) + (3)
  2. b. Share your Social Security number with some relatives so that the information cannot be lost.
  3. d. spend more than they make.
  4. b. check casher