Question 44 (1 point) The final step in the purchasing process is the Final Decision and purchase. True False Question 38 (1 point) Retail Therapists believe which of the following? O I need to check my bank account every day to remain in control O Buying gifts shows others you care I must have the newest of everything You can teach people to buy only what they need Question 39 (1 point) What is the range for a FICO credit score? 400-850 O O 350-800 0350-850 350-850 O 300-750 Question 40 (1 point) For the purpose of calculating a credit score the concept of Amount Owed means which of the following? Total amount you owe on all accounts divided by the total available credit to you on all accounts Number of accounts you have open with a balance The monthly payments required to keep accounts current The absolute dollar figure of how much you owe Question 41 (1 point) Taking a cash advance from a credit card is the same as getting a payday advance. True False Question 42 (1 point) Which of the following are reasons people give to justify the leasing of a vehicle? Leasing is generally less expensive than buying overall. Monthly payments for leases are generally less expensive than loan payments. One can afford a more expensive car with the same monthly payment by leasing rather than buying. b and c only a, b, and c. Question 43 (1 point) What is the main objective behind using an Adjustable Rate Mortgage? Keep the payment low until you can get a pay raise at work Keep the payment low on a property you intend to rent out O Pay the mortgage off faster Keep the payment low until you can renovate and flip the house Question 45 (1 point) Sherry is about to close 3 credit cards (she has a total of 5) she recently paid off. If she does this she will likely feel a negative impact on her credit score because of what? New Credit requests Bankruptcy Amount Owed Credit Mix Question 46 (1 point) What is the main objective behind using an Interest Only Mortgage? O Keep the payment low until you can get a pay raise at work O Keep the payment low until you can renovate and flip the house O Keep the payment low on a property you intend to rent out Pay the mortgage off faster Question 47 (1 point) When you pull your credit report to review it for errors you are actually lowering your credit score True False Question 48 (1 point) For someone with good credit, lenders will typically lend up to 100% of equity using a home equity credit line. True False Question 49 (1 point) The first step in the financial planning process is? O Taking action to improve your finances Looking at various options for plans O Reviewing your current situation Deciding on your goals Question 50 (1 point) The Balance Sheet represents what? Last year's results, with a surplus or deficit O Right now, with assets and debts Next year, with surplus or deficit Last year, with assets and debts