This is stealing someone else's personal information for fraudulent use.
What is "Identity Theft"?
100
This is borrowing money now and agreeing to pay the money back with interest in the future.
What is credit?
100
VISA, Mastercard, and Discover Card are this type of credit.
What is "revolving"?
100
The rating system most used by lenders to determine if you deserve a loan is this.
What is FICO?
100
This term means a loan on a home.
What is a "mortgage"?
200
While not considered a summer olympic sport yet, this requires digging through garbage to obtain personal information to steal.
What is "dumpster diving".
200
This type of loan has backing.
What is a secured loan?
200
This acronym refers to the charge per year on loans and credit cards.
What is the APR?
200
This Act allows consumers to fix errors in their credit reports.
What is the "Fair Credit Reporting Reform Act"?
200
Pay down your home loan and you build this.
What is "equity"?
300
Get this important number--not for a date, but to steal an identity.
What is a social security number?
300
This type of credit allows the borrower to move a balance into the future.
What is "revolving"?
300
This period of time is when no interest is charged on your plastic cards.
What is the "grace period"?
300
A credit report may be ordered from each of the three credit reporting agencies free this many times per year.
What is "Once"?
300
No more than this percentage of take-home pay should be allocated to debt payments.
What is 25%?
400
This is the textbook's term for stealing an identity.
What is true-name fraud?
400
This type of payment is more than twice the regular monthly payment--and is sometimes shocking to the borrower.
What is a "balloon" payment?
400
This restriction refers to the most that can be charged on your card.
What is the "credit limit"?
400
These three (name all) companies collect information about individual's financial health.
What is Experian, Equifax,and TransUnion?
400
This schedule tells a borrower how much of each monthly payment is principal reduction and how much is interest.
What is an "amortization" schedule?
500
This 3-letter organization is the most important consumer help organization and provides information on the internet regarding how to fix your stolen identity.
What is the Federal Trade Commission, or FTC?
500
This clause allows the lender to request the entire amount of the loan plus interest to be paid immediately.
What is an "acceleration" clause?
500
Paying your bills on time accounts for this % of your credit rating.
What is 35%?
500
FICO is a rating system developed by this company.
What is "Fair Isaac"?
500
A home is a good investment because most generally it will do this, or "go up in value".