UF SMMS Pre-Test Spring 2013

What is a subprime loan?

What does it mean to “refinance” your home?

A 401(k) is a type of retirement savings account and the single best retirement plan in the U.S.

What is an IRA?

Declaring bankruptcy gets rid of student loan debt.

Which of the following is NOT a method of repaying student loans?

What is a CD?

Interest on a student loan is deductible.

The Annual Percentage Rate (APR) only includes the interest rate amount the lender charges you for being able to borrow money for a certain period of time.

A FICO score determines a person’s creditworthiness based on present financial condition, experience, and past credit history.

What is a credir report?

The term “due at signing” refers to

A mutual fund is a type of professionally managed collective investment vehicle that pools money from many investors to purchase securities.

What are the steps for buying stocks?

Most credit scores fall between_________ and ________. A score _______ usually suggests good credit management.


To test the financial literacy/awareness of graduating seniors and graduate students in topics that will directly affect their economic position in the real world.

Prospective and current graduates… Are you ready for the “real world?”
Test: 1

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