4th Six Weeks Common Assessment

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1 point

Credit experts recommend that you check the status of your credit reports at least...

When you apply for your for your first loan or credit

once a year

Every time you apply for a loan or credit card

1 point

Which of the following could impact your credit rating?

Making a late car loan payment

Borrowing money from a friend

Paying cash for used car

1 point

Shaunda wants to buy her grandmother's car to drive back and forth to college next year. Her grandmoter agreed to sell the car for $1,200 in a year. How long will she need to pan to achieve her goal?

Intermediate

Short term

Long term

1 point

The __________ ___________ is what the FED does to influence the amount of money and credit in the U.S. Economy.

1 point

An example of a depository is an insurance company.

True

False

1 point

An example of a non depository is a credit union.

True

False

1 point

Medium of exhange, store of value, and value of account are the __ __________ ___ ____________.

1 point

The three functions of the Federal Reserve are monetary policy, financial services, and banking supervision.

True

False

1 point

What year was the federal reserve born?

1775

1955

1913

2008

10.

1 point

Which of the following statements best describes your right to check your credit history for accuracy?

All credit records are property of the U.S. Government and access is only availabe to the FBI and Lenders

Your credit record can be checked once a year for free.

You cannot see your credit record

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