Southern New Hampshire University
FIN250 - Personal Financial Planning
EXAM 2 questions and answers
1
Which of the following can have an unfavorable impact on Ian's credit report?
Having two different credit cards
Purchasing a vehicle by opting for an auto loan and pledging it
as collateral
Opting for student loans, toward which he makes regular payments
Losing his previous property to foreclosure
RATIONALE
Certain actions like declaring bankruptcy, losing a home to foreclosure, being sued and losing the court battle, and
having unpaid fines can negatively impact an individual's credit report.
CONCEPT
Credit Reports
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2
Who among the following people receives a bonus as part of their income?
Simon, who earns double his hourly rate when he works on
Sundays
