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Credit - Heart Matters
Page 1 of 1
1. Which is a rational belief about credit?
A written Debt Recovery Plan is essential to getting out of debt.
My credit score isn't that important.
There is only one strategy for getting out of debt - save.
Debtors have few rights.
2. Which are rational beliefs about credit? My credit score will likely go down if I:
Declare bankruptcy.
All of the answers are correct.
Skip a monthly payment.
Move credit balances to more credit cards.
3. Self-actualization can help people manage their credit because self-actualizers:
Are less spontaneous.
Are less realistic.
Are more self-accepting.
Are more dependent on culture.
4. Self-actualization means:
Using credit to buy what you want to make you feel good at the moment.
Being spontaneous, spending money on goods and services that bring immediate pleasure.
Living up to your potential.
Doing whatever feels good.
5. Which quality of self-actualization can help a person manage his/her credit?
Focusing on solving problems.
Depend on the approval of others rather than your internal motivation.
Becoming acculturated or assimilated.
Acting unrealistically, but within reason.
6. Debt is the enemy of people who are motivated to actualize their potentials because:
Self-actualizers need more goods and services to actualize their potentials.
More debt means more time spent on purchases and activities to maintain purchases.
Saving inhibits creativity.
Having debt reflects badly on them, and others won't respect them for their debt.
7. The rational belief that can help in reducing monthly expenses is:
I'd prefer to be approved of by others, but it's not the end of the world when it doesn't happen.
I must cut up my credit cards.
I must change my ways, change my habits and put an end to overspending with my credit card.
I must be loved and approved of or it's awful.
8. An emotion is positive when:
It causes pleasure of any sort.
It causes immediate pleasure.
It causes pleasure in the long run.
It feels right.
9. An emotion is negative when:
It feels wrong.
It is impossible to define this term.
It causes immediate pain.
It causes immediate pleasure but long-range pain, discomfort or displeasure.
10. True or False: All debt is bad.
True
False
11. Good debt,
Is really no different than bad debt.
Is when people owe you money.
Has little to do with student loans.
Is debt that often makes money over time.
12. Examples of good debt are:
Buying a home.
Investing in yourself.
All of the answers are correct.
Completing a college course of study to get a better job.
13. Bad debt,
Is using credit cards.
Is debt for things that depreciate in value.
Is any kind of debt.
14. True or False: The costs of a college degree are always good debt.
False
True
15. A student loan can turn from good debt to bad debt when,
A person fails to complete their program.
A person borrows from multiple lenders.
A student loan can never turn to bad debt.
A person takes more than one loan.
16. Students can do certain things to help avoid turning their student loans into bad debt. What are they? (choose two correct answers):
Research the future of jobs that require their major.
Complete their course of study.
Get good grades.
Get high scores on the ACT/SAT.
Calculating...
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