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