Form 3170-XXXX Outcome Survey

Clearance for Financial Education Program Evaluation

Outcome Survey

OMB: 3170-0030

Document [pdf]

Download: pdf | pdf

Appendix B
Financial Education Program Evaluation Support Services
Outcomes Survey

[Part I. Household Roster and Household Finances]
I’m going to begin by asking some questions about you and the members of your household.
1. Are you the main financial provider for any children, including those not living at home and step-children?
o Yes
o No
2. [Ask if 1=Yes, otherwise skip to 3] How many children are you the main financial provider for?
[Interviewer record number: _____ ]
3. Are you helping to financially support any adults, besides yourself?
o Yes
o No
4. [Ask if 3=Yes, otherwise skip to 5] How many adults are you helping to financially support?
[Interviewer record number: _____ ]
[If 1 or 3 = Yes, ask 5a, otherwise ask 5b]
5a. I am now going to ask you some questions about you and the members of your household who you included as individuals with whom you share financial
costs or for whom you provide financial support. Please only include individuals who live in your household.
5b. I am now going to ask you some questions about yourself.
What is [your/
this person’s]
gender?

[Person]

o
o
You

Male
Female

What is [your/this
person’s] DOB
or year of birth if
date unknown
[MM/DD/YY]

What is this person’s
relationship to you?

What is [your/this person’s] current employment
status?
o
o
o
o
o
o
o
o
o
o

o
o

Male
Female

o
o
o
o
o
o
o

Spouse/Partner
Child
Grandchild
Parent
Grandparent
Other Relative
Other Non-Relative

o
o

Male
Female

o
o
o
o
o
o
o

Spouse/Partner
Child
Grandchild
Parent
Grandparent
Other Relative
Other Non-Relative

o
o

Male
Female

o
o
o
o
o
o
o

Spouse/Partner
Child
Grandchild
Parent
Grandparent
Other Relative
Other Non-Relative

Person 1

Person 2

Person 3
(etc.)

o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o

Self-employed
Work full-time for an employer
Work part-time for an employer
Homemaker
Full-time student
Permanently sick, disabled, unable to work
Unable to work due to immigration status
Unemployed and actively seeking employment
Unemployed, and not seeking employment
Retired
Self-employed
Work full-time for an employer
Work part-time for an employer
Homemaker
Full-time student
Permanently sick, disabled, unable to work
Unable to work due to immigration status
Unemployed and actively seeking employment
Unemployed, and not seeking employment
Retired
Self-employed
Work full-time for an employer
Work part-time for an employer
Homemaker
Full-time student
Permanently sick, disabled, unable to work
Unable to work due to immigration status
Unemployed and actively seeking employment
Unemployed, and not seeking employment
Retired

I am now going to ask you some questions about dependents in your household.
6. [Ask if 1 or 3 = Yes] Do any of the individuals you help to support live outside of the United States?
o Yes
o No
7. [Ask if 6 = Yes, otherwise SKIP to 8] How much money do you provide for individuals living outside the
United States each year? Your best guess is fine.
[Interviewer record amount: __________ ]
I am now going to ask you some questions about your household’s sources of income.
8. Households often receive income from a variety of sources. I will now read a list of various common
income sources. Please indicate whether or not your household receives income from a given source by
answering “yes” or “no,” and if “yes” how much, and whether it is a monthly or yearly amount. Please
report income from each source only once; do not include the same dollars in different categories.

Does your household receive income from...

A. Employment, including wages and selfemployment?

[Yes]

[If Yes] What is the estimated
monthly or yearly amount?
[M = Monthly, Y = Yearly]

[No]

□
□

M [If A= Yes] Is this amount
Y before or after taxes?
□ Before
□ After

□
□
□
□
□
□
□
□
□
□
□
□
□
□
□
□
□
□

M
Y
M
Y
M
Y
M
Y
M
Y
M
Y
M
Y
M
Y
M
Y

K. Temporary Assistance to Needy Families, also
known as TANF, or general public assistance for
Individuals without children

□
□

M
Y

L. SNAP, also known as Food Stamps, or WIC the

□

B. Stipends (e.g., educational, work program
participation, tuition reimbursement)
C. Unemployment Insurance
D. SSI (Supplemental Security Income)
E. SSDI (Social Security Disability Income)
F. Social Security Retirement/Survivor Benefits
G. Child Support/Alimony
H. Pension Payments
I. Interest/Dividends or rental income
J. Gifts, Remittances, or Money Transfers

Special Supplemental Nutrition Program for
Women, Infants and Children Benefits
M. Government Rental Allocation or Housing
Subsidy
N. Earned Income Tax Credit (EITC) or child care
subsidy
O. another source that I did not mention?

□

□
□
□
□

M
Y
M
Y

[If “yes” ask “what is the source of income?” and
record response: ________________ ]

□
□

M
Y

9. Since [program enrollment date], has your household experienced a large drop in income which you
did not expect? Include events such as wage earners moving out of the household, layoffs, etc.
o Yes
o No
o Don’t know
10. [Ask if 9 = Yes, otherwise SKIP to 12] Please briefly describe when this took place, why, and how
much your income decreased.
_____________________________________________________________________________________
_____________________________________________________________________________________
11. Before your household’s income dropped, what was your total household income before taxes?
Please include all income earned from jobs, public assistance, or social security by all members of your
household.
[Interviewer record amount: __________ ]
12. Since [program enrollment date], has your household experienced a large increase in expenses
which you did not expect?
o Yes
o No
o Don’t know
13. [Ask if 12 = Yes, otherwise SKIP to 14] Please briefly describe when this took place, why, and how
much your expenses increased.
_____________________________________________________________________________________
_____________________________________________________________________________________

We are now going to ask you some questions about banking status and the accounts you have.
14. I am going to read a list of various bank accounts individuals sometimes have. Please indicate
whether or not you have any of the following accounts by answering “yes” or “no”, and if “yes,” what
your estimated current balance is.

Do you have a...

[Yes]

[No]

What is the
Estimated
Current Balance?

A. Checking account
B. Savings account
C. Cash account I did not mention, for example a money market
account, or savings certificate?
[If yes] What kind of account is it? [Interviewer record account-type:
____________ ]

15. [Ask if 14 indicates R has bank account, otherwise SKIP to 22] Do you use a debit card tied to your
bank account?
o Yes
o No
o Don’t know
16. [Ask if 14 indicates R has savings account, otherwise SKIP to 17] Since [program enrollment date],
how many deposits have you made into your savings account? Please write in number: _______

17. [Ask if Roster indicates employment and 14 indicates R has checking account, otherwise SKIP to 18]
Do you have paychecks directly deposited into one of these accounts?
o
o

Yes
No

18. [Ask if 17 = No, otherwise SKIP to 19] There are many reasons why someone might not have direct
deposit, please briefly explain why you do not have direct deposit:
_____________________________________________________________________________________
_____________________________________________________________________________________
19. [Ask if 14 indicates R has a checking and savings account, otherwise SKIP to 22] Many banks have
options that allow customers to automatically transfer money from their checking accounts to their
savings accounts to help increase savings. Do you currently use something like this with your checking
and savings accounts?
o
o

Yes
No

20. [Ask if 19 = Yes, otherwise SKIP to 22] How much do you have automatically transferred? Please
write in: __________
21. [Ask if 19 is yes, otherwise SKIP to 22] How often are these transfers made?
o
o
o
o
o

Frequently (every 2 weeks)
Occasionally (every 1-2 months)
Seldom (1-2 times per year)
Never
Don’t Know

22. Some individuals are in a position to put aside money for retirement, and I am going to read a list of
accounts that retirement savings are often placed into. Please indicate whether or not you have any of
the accounts by answering “yes” or “no,” and if “yes,” what your current balance is.

Do you have...

[Yes]

[No]

How many
contributions
have you made
since [date of
enrollment
movie]

What is the
Estimated
Current
Balance

A. An Individual Retirement Account (IRA),
Roth IRA, KEOUGH account
B. A Retirement account through an employer
(e.g. 401(k), 403(b), Thrift accounts)
C. A Retirement asset or assets which I did not
mention earlier?
[If yes] What kind of account is it? [Interviewer
record account-type: ________________ ]

I am now going to ask you some questions regarding your financial assets and liabilities.
23. The following are common financial assets and liabilities individuals sometimes have. Please indicate
whether or not you have any of the following by answering “yes” and “no,” and if “yes,” what your
current balance is.

Do you have...
A. A Vehicle
B. A Residence (your home and any other real estate you
own)
C. Any U.S. Savings Bonds
D. An Individual Development Accounts, also known as an
IDA, or a matched savings account
E. A 529 Educational Savings Account (or similar)
F. Any Stocks and Mutual Funds or Municipal or Corporate
bonds
G. Any other financial asset which I did not already
mention.
[If yes ask “what kind of asset is it?” interviewer record
account-type: ________________ ]

[Yes]

[No]

What is the
Estimated Current
Balance or Market
Value?

24. How many active credit cards, not including prepaid or debit cards, do you currently have?
[Interviewer record amount: __________ ]
25. [Ask if answer to 24 > 0, otherwise SKIP to 26] How much do you currently owe on all of your credit
cards? If you are unsure, your best guess is fine.
[Interviewer record amount: __________ ]
26. Debts are common elements of a household’s finances. I am going to read a list of common debts
households often have. Please indicate whether or not your household has any of the following debts by
answering “yes” or “no,” and if yes, please tell me how much you currently owe.

Do you have...

[Yes]

[No]

What it is the
Estimated Balance
Owed?

[Ask 26A if 23B indicates homeownership, otherwise
skip to 26B]
A. Any home improvement loans
B. Any Student/Educational loans
C. Any Personal loans from bank/credit union
D. Any Unpaid medical bills not covered by insurance
E. Any Business debts
F. Any Unpaid legal bills
G. Any Unpaid taxes
H. Any Other debts I did not mention, for example
money owed on other lines of credit, personal debt
from money lenders, debt to individuals/institutions
outside of the United States.
[If yes] What kind of debt is it? [Interviewer record
debt-type: ________________ ]

27. Since [program enrollment date], have you paid off or renegotiated any debts?
o Yes
o No
o Don’t know
28. [Ask if 27 = Yes, otherwise SKIP to 30] Did you pay off or renegotiate the debt or debts?
o I paid off a debt
o I renegotiated a debt resulting in lowered monthly payments, etc.
o I have paid off and renegotiated a debt
o Don’t know

29. [If 27 = Yes otherwise SKIP to 30] Please describe the amount of debt you paid off and/or
renegotiated, and what this debt was for.
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
30. [Ask if 23B indicates homeownership, otherwise SKIP to 33] How long ago did you buy your current
home?
[Interviewer record date: __________ ]
31. Do you currently have a mortgage on your home?
o Yes
o No
o Don’t know
32. Do you have a home equity loan?
o Yes
o No
o Don’t know
33. Have you been involved in a foreclosure process on a home you own or owned in the last 2 years?
o Yes
o No
o Don’t know
34. [Ask if 33 = Yes, otherwise SKIP to 35] What were the circumstances that led to the foreclosure, and
where in the foreclosure process are you currently?
_____________________________________________________________________________________
_____________________________________________________________________________________
[End of Part I]

[Part II. Household Financial Practices]
35. I am going to read a series of statements, please tell me which is most appropriate. In your
household, who is most knowledgeable about saving, investing and debt? Would you say it is...
o You
o Someone else. [If someone else, ask “What is this person’s relationship to you” and write in
response: ________________ ]
o You and someone else are equally knowledgeable [If equally knowledgeable with someone else,
ask “What is this person’s relationship to you” and write in response: ________________ ]
36. Who typically makes the decisions about money and finances in your household? I am going to read
a series of statements, please tell me which is most appropriate. Would you say in your household...
o You make the decisions yourself
o Someone else makes the decisions. [If someone else, ask “What is this person’s relationship to
you” and write in response: ________________ ]
o You and someone else make the decisions together
o Money and financial decisions are made some other way. [If selected, ask “what other method
do you use?” and record response: ________________ ]
37. Who pays the bills and keeps track of spending? I am going to read a series of statements, please tell
me which is most appropriate. Would you say in your household...
o You manage the money yourself
o Someone else manages the money. [If selected, ask “what is this person’s relationship to you?”
and record response: ________________ ]
o Someone else and I manage the money together
o Bills and spending are managed some other way. [If selected, ask “what other method do you
use?” and record response: ________________ ]
38. How often is your household able to pay its bills on time? I am going to read a series of statements,
please tell me which is most appropriate. Would you say you pay your bills on time...
o
o
o
o

Most of the time (late 1 time or less per year)
Very often (late 2-3 times per year)
Sometimes (late every other month)
Rarely or never (late about every month)

39. How do you usually pay your bills? I am going to read a list of typical ways that people pay their bills,
please tell me the method that you use the most often. I most often pay my bills with...
o
o
o
o
o
o
o

A personal check or debit card
An electronic payment linked to a checking or savings account
A money order
Cash
A non-internet credit card payment
An online electronic payment linked to a credit card
Another method. [If selected, ask “Please tell me what other method you use to pay your bills”
_________________________________________________ ]

40. Do you currently use a spending plan or budget to help you meet or keep track of your monthly
expenses?
o Yes [SKIP to 42]
o No [Ask 41]
o Don’t know [SKIP to 43]
41. [Ask if 40 = No] There are many reasons why someone might not use a spending plan or budget,
please explain your reason below:
___________________________________________________________________________
___________________________________________________________________________
[SKIP to 43]
42. [Ask if 40 = Yes] How closely does your household usually keep to its budget? Would you say you
stick to it...
o
o
o
o

Very closely
Somewhat closely
Not closely at all
Don’t know

43. Since [program enrollment date], did your household spend less than, more than, or about equal to
your income?
o Spent less than your income
o Spent more than your income
o Spent about equal to your income
o Don’t know
44. Have you ever declared bankruptcy?
o Yes
o No
o Don’t know
45 [Ask if 44 = Yes, otherwise SKIP to 47] When did you declare bankruptcy?
[Interviewer record date: __________ ]
46. [Ask if 44 = Yes, otherwise SKIP to 47] What kind of bankruptcy did you file for, and what were the
circumstances that led to the bankruptcy?
_____________________________________________________________________________________
_____________________________________________________________________________________
47. Have you ever been a victim of identity theft, involving the misuse of existing accounts or numbers,
or the use of your personal information without your permission, to obtain new credit cards or loans in
your name, run up debts in your name, open other accounts, or otherwise commit theft, fraud, or some
other crime?
o
o
o

Yes
No
Don't know

48. [Ask if 47 = Yes, otherwise SKIP to 49] What were the circumstances of the identity theft? Please
briefly explain:
_____________________________________________________________________________________
_____________________________________________________________________________________
I am now going to ask you some questions about your bank account usage
49. [Ask if 14 indicates R has checking account, otherwise SKIP to 50] How often do you overdraw your
checking account? Would you say you overdraw...
o
o
o
o
o

Frequently (1 or more times per month)
Occasionally (3-4 times per year)
Seldom (1-2 times per year)
Never
Don’t know

50. How often do put aside money for savings? Would you say you do it...
o
o
o
o
o

Frequently (every 2 weeks)
Occasionally (every 1-2 months)
Seldom (1-2 times per year)
Never
Don’t Know

51. [SKIP to 52 if 50=Never] I’m going to read a list of places people often place savings, please tell me if
this is where you typically place your savings
Do you usually place your savings in...

[Yes]

[No]

A. A savings account
B. A checking account
C. Savings bonds
D. In your home
E. An Individual Development Account
F. An Individual Retirement Account or 401K Account
G. another place I didn’t mention
[If yes, ask “where do you usually place your savings?” and
record answer ______________________ ]

52. There are times when people put aside money that does not come from income or another regular
source. Examples include money from a birthday gift, prize winnings, or lump sum payments, such as a
tax refund, EITC or other. What share of this kind of money do you typically save? Would you say you
typically save...
o
o

All of it
Most of it

o
o
o
o

Some of it
A little bit of it
None of it
This is not applicable because I do not receive those kinds of funds

53. I am going to read a series of bank account fees. Please tell me whether or not you have paid the
following fees for your checking or savings accounts by answering “yes” or “no,” and if “yes,” please tell
me how many times you have paid this fee since [program enrollment date].

Have you ever paid a...

Yes

Don’t
Know

How many times
have you paid this
since [program
enrollment date]?

A. Minimum balance fee
B. Monthly maintenance fee
C. Overdraft fee

54. [Ask if 14 indicates R does not have checking account, otherwise skip to Question 55]
There are many reasons why individuals do not have bank accounts. Please share with me the main
reason you do not have a bank account. [Do not read responses, and record all that apply]
o
o
o
o
o
o
o
o
o
o
o

Do not have enough money to make it worthwhile
The minimum balance or fees are too high
I use a check-cashing store, or cash checks at a grocery, liquor store, etc.
My request for an account was rejected by a bank or credit union
There are no banks or credit unions in my neighborhood or area
I don’t need one
I don’t trust banks/credit unions
I have bounced too many checks
I don’t know how to use one
I don’t have proper identification
[Some other reason, please write below]
_______________________________________________________________________

55. How frequently do you use a check-cashing store, or grocery, liquor store, etc. to cash checks?
Would you say you do this...
o Always
o Often
o Sometimes
o Rarely
o Never
I am now going to ask you some questions about credit reports
56. Have you ever heard of a credit report, which is a record of how you pay your debts such as credit
cards, loans, and other debt?
o Yes
o No

Don’t know

57. Since [program enrollment date], have you seen your credit report from a credit-reporting agency
such as Experian, Equifax, Inc., or TransUnion?
o Yes
o No
o Don’t know
58. [Ask if 57 = Yes, otherwise SKIP to 60] How easy or difficult was it for you to understand your credit
report? Would you say it was...
o Very easy
o Somewhat easy
o Somewhat difficult
o Very difficult
59. [Ask if 57 = Yes] When was the most recent time you checked your credit report, please tell me the
month and year.
[Interviewer record date: ______________]

60. Since [program enrollment date], have you checked your credit score?
o Yes
o No
o Don’t know
61. I am going to read a list of ways in which people sometimes obtain cash that they want or need.
Please indicate whether or not you have done any of the following things by answering “yes” or “no” for
each one. For those you answer “yes,” please also indicate the number of times you have done so since
[program enrollment date].

Have you ever...

[Yes]

[No]

How many
times have you
done this since
[program
enrollment
date]?

A. Borrowed money from friends or family

B. Obtained cash from a payday loan in anticipation of an
upcoming paycheck.
C. Sold or pawned something to a pawn shop.
D. Obtained an auto title loan. Auto title loans are loans where a
car title is used to borrow money for a short period of time. They
are NOT loans used to purchase an automobile
E. Obtained a tax refund in advance, sometimes called a “refund
anticipation” loan/check.
I will now ask you some questions about your access to emergency or “rainy day” funds

62. Have you set aside emergency or rainy day funds that would cover your expenses in case of sickness,
job loss, economic downturn, or other emergencies?
o Yes
o No
o Don’t know
63. [Ask if 62 = Yes, otherwise SKIP to 64] How much money have you set aside in your emergency fund?
[Interviewer record amount: __________ ]
64. If you were to face a $1,000 unexpected expense that you had to pay in the next month, how would
you access or get the funds you need? [Do not read list, mark all that apply]
o
o
o
o
o
o
o
o
o
o
o
o
o
o
[End of Part II]

Draw from savings,
Liquidate or sell investments
Liquidate some retirement investments even if it required me to pay a penalty
Borrow against my retirement savings at my employer
Borrow or ask for help from my family,
Borrow or ask for help from my friends (not members of my family)
Use credit cards,
Open or use a home equity line of credit or take out a second mortgage,
Take out an unsecured loan
Get a short term payday or payroll advance loan,
Pawn an asset I own
Work overtime, get a second job, or another member of my household would work
longer or go to work
Sell things I own, except my home,
Sell my home

Part III. Financial Well-Being and Capability
65. Have you participated in financial education programs—other than financial coaching from the Financial Clinic/South Florida Urban Ministries—in
the last six months?
o
o
o

Yes
No
Don’t know

66. [Ask if 65 = Yes, otherwise SKIP to 67]

Did you participate in...

[Yes]

[No]

How many
sessions
did you
attend?

How many
hours did you
spend at each
session?

A. Financial education workshops? [If yes, ask “what organization provided the financial education
workshops?” and write in organization: ____________________ ]

B. Financial coaching outside of [SFLUM/Financial Clinic]?
C. Other financial education services that I did not mention? [If yes, ask “what financial education
service did you receive, and what organization provided it?” and write in organization and service:
____________________ ]

67. [Auto-populate fields on the basis of the application survey. Only include questions where clients said “Yes” they had that financial goal.] I am going
to read a list of the financial goals you mentioned you had when you completed our program application. Please indicate how much progress you have
made towards each goal since [program enrollment date], when you enrolled.
[Use following prompt for 61A – 61K] How much
progress have you made towards [insert goal 61A –
61K]? A lot of progress, some progress, a little
progress, or no progress?

A lot of
Some
A Little
No
Progress Progress Progress Progress

Increasing non-retirement savings or emergency
“rainy day” funds
B Increasing retirement savings
C Increasing savings for children’s education
Home ownership, home improvement, apartment
D
rental
E A big purchase, for example a car
F Increasing your education or training
G Starting or improving your own business
A

H Improving your credit
I
J
K

Paying down your debts
Improving your money management (budgeting)
skills
Improving your household’s financial security,
being able to better take care of your family, or
living more comfortably
Do you have another goal that I did not mention?
[If yes, ask “what is your goal?” write
response,__________________________________
and ask, “how much progress have you made
towards this goal, a lot of progress, some progress,
a little progress, or no progress?”]

68. [Auto-populate fields on the basis of the application survey. Only include questions where clients said “No” they did not have that financial goal.]
Below are financial goals individuals often have. Please indicate whether or not any of the following are financial goals you wish to achieve, and if yes,
how close you feel you are to achieving this goal.

[Use following prompt for 62A – 62K] Do you have the
goal of...
Increasing non-retirement savings or emergency
“rainy day” funds
B Increasing retirement savings
C Increasing savings for children’s education
Home ownership, home improvement, apartment
D
rental
E A big purchase, for example a car
F Increasing your education or training
G Starting or improving your own business
A

H Improving your credit
I
J
K

How much progress have you made
towards this goal?
A lot of
Some
A Little
No
Yes No Progress Progress Progress Progress

I am now going to ask you some questions about your feelings and experiences of financial stress.
69. On a scale of 1 to 10, where one is overwhelming stress and 10 is no stress at all, what do you feel is the level of your financial stress today?
□

□

Overwhelming
Stress

□

High Stress

□

Low Stress

□

No Stress At All

70. On a scale of 1 to 10, with 1 being dissatisfied and 10 being satisfied, how satisfied are you with your present financial situation?
□

□

Somewhat
Dissatisfied

Dissatisfied

□

Somewhat
Satisfied

10
Satisfied

71. On a scale of 1 to 10, with 1 being overwhelmed and 10 being comfortable, how do you feel about your current financial condition?
□

□

Feel
Overwhelmed

□

Sometimes
Feel Worried

□

Feel
Comfortable

Not Worried

72. On a scale of 1 to 10, with 1 being all the time and 10 being never, how often do you worry about being able to meet normal monthly living
expenses?
□

All the time

□

Sometimes

□

Rarely

□

Never

73. On a scale of 1 to 10, with 1 being no confidence and 10 being high confidence, how confident are you that you could find the money to pay for a
financial emergency that costs about $1,000?
□

□

No
confidence

□

Little
confidence

□

Some
Confidence

□

High Confidence

74. On a scale of 1 to 10 with 1 being all the time, and 10 being never, how often does this happen to you—you want to go out to eat, go to a movie or
do something else and don't go because you can't afford to
□

□

All the time

□

Sometimes

□

Rarely

□

Never

75. On a scale of 1 to 10, with 1 being overwhelming stress and 10 being no stress at all, how stressed do you feel about your personal finances in
general?
□

Overwhelming
Stress

□

High Stress

□

Low Stress

□

No Stress At All

I am now going to ask you a series of multiple choice questions that assess different areas of financial
knowledge. Please answer the following questions to the best of your ability.
76. Sara and Joshua just had a baby. They received money as baby gifts and want to put it away for the
baby's education. Which of the following is likely to grow the most during the baby’s childhood?
o
o
o
o

A checking account
A savings account
A U.S. Government savings bond
Stocks

77. Which of the following credit card users is likely to pay the most in finance charges every year, assuming
each person charges the same amount on their cards?
o
o
o
o

Vera, who always pays off her credit card bill in full, shortly after she receives it.
Jessica, who only pays the minimum amount.
Megan, who pays at a little more than minimum amount when she has the money.
Erin, who generally pays off her credit card in full but, occasionally, will pay the minimum when she
is short of cash

78. Which of the following statements is true?
o
o
o

Your bad loan payment record with one bank will not be considered if you apply to another bank for
a loan.
If you missed a payment more than 2 years ago, it cannot be considered in a lender’s decision to
provide you with a loan.
Banks and other lenders share the credit history of their borrowers with each other and are likely to
know of any loan payments that you have missed.

79. Lindsay has saved $12,000 for her college expenses by working part-time. Her plan is to start college
next year and she needs all of the money she saved. Which of the following options will keep her money
safe, while also allowing it to grow?
o
o
o

A bank savings account
Locked in her closet at home
Stocks

80. If I pay the minimum monthly payment on my credit card, then I won’t owe any interest.
o
o

True
False

File Type	application/pdf
Author	Emam, Dina
File Modified	2012-11-16
File Created	2012-11-16