1. If you want to dispute any information included in your credit file, you
A Need to write a letter or file a report online with the credit bureau.
B need an attorney to write a letter.
C have no right to protest and must wait until the credit bureau removes it from your file.
D must sue the credit bureau.
2. Which of the following statements is FALSE?
A Building a good relationship with a banker can help you get a loan.
B Lenders are most concerned about your ability to repay the loan.
C Qualifications for borrowing money are basically the same from lender to lender.
D When shopping for a loan, it pays to compare lenders.
3. Your credit file contains much information about you, including
A. your age.
B.the number of times you apply for credit.
C. the place where you work and your supervisor’s name.
D. your race.
4. APR is the
A. Applied Personal Rate.
B. Annual Personal Rate of Interest.
C. Applied Percentage Rate.
D. Annual Percentage Rate.
5. A prepayment clause allows the borrower to
A. pay lower interest rates if they make their payments on time.
B. borrow additional funds as needed.
C. skip a loan payment without penalty when they do not enough money to pay their bills.
D. make additional payments or pay off a loan early.
6. In Oklahoma, MOST consumer protection laws are enforced by the
A. Oklahoma Bankers Association.
B. Oklahoma Department of Treasury.
C. State Attorney General’s Office.
D. State Office of Personal Finance.