Question

To build credit and ensure that all your recur are paid on time you should pay your recurs on your credit card and pay off at least 95% of the balance monthly

            A. TRUE   B. FALSE

Term life insurance proceeds are not used to

            A) pay off a mortgage.

            B) support parents or other relatives.

            C) fund the policyholder's retirement.

            D) fund charities.

Answer 1

yes its true because the credit scores shows your ability of the repayment and it is generally estimated from your past perfformance in payment so all the timely payment will helpful in generating good credit score.

Term life insurance proceeds are not used to D) fund charities. becuase main intention behind such insurance is to provide the financial support to the family after death of the earning member and in such bad situation anyone is not going to give this money in charity.