Debt Management Basics: Chapter 1 quiz

If you think you've mastered the material in this chapter, take our quiz. After you click the ''submit'' button, the answers will appear below.

  1. True or false: Mortgage loans are always considered bad debt because they take years to pay off.


  2. To protect yourself from falling into debt, you should sock away enough money to last you through:

    Two weeks -- just long enough to find another job.
    One month
    Three to six months

  3. A wise money motto is:

    Apply for store credit and you can always save 10 to 20 percent on store items.
    If you can't pay for it in cash and the item doesn't increase in value, you shouldn't buy it.
    Don't owe more than half your income and you can stay on top of debt.


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