Reference no: EM132245227

1. Which of the following credit reporting protections is offered by the federal Fair Credit Reporting Act?

A. In all cases, negative information more than seven years old must be reported in a consumer’s credit report.

B. All inaccurate information must be corrected or removed from a consumer’s credit file, usually within 30 days.

C. Consumers cannot sue a credit reporting agency or a bank for damages even if their rights under the act have been violated.

D. Anyone using information from a credit reporting agency to deny a consumer credit cannot reveal the source of information to the consumer.

2. Based on Sue’s credit history, Honest Money Bank denied her a loan. In this case, the bank need not notify Sue and tell her where it secured her credit information.

True/False

3. If a buyer is in a new buy situation, the seller will need to collaborate extensively with __________ to make sure that the proposal includes the most detailed and accurate information possible.

a) The seller's internal production team for information regarding capacity and costing

b) The seller's internal financial and accounting departments to determine the terms of sale and possible trade discounts

c) Salespeople from competitive firms who can provide insight into what the final selling price should be

d) Both A & B

e) All of the above

4. Venture capitalists rely heavily on the in making investment decisions

a. cash budget

b. executive summary of the business plan

c. small company offering registration

d. debt summary

5. According to the class of small business owners must assess all the various risks they will face when starting and operating their businesses in order to eliminate or minimize those risks they have control over and against those risks they cannot control

a. invest

b. insure

c. diversify

d. multiply

e. structure

6. From an investor's point of view common stock investments should have a higher financial return than debt investments.

a. True

b. False ?