C214 Financial Management

Explanation:

When a credit report contains inaccuracies, the most direct and effective action is to file a dispute with the appropriate credit reporting agency. This initiates an official investigation by the credit bureau, which can result in correction or removal of the incorrect information. Including this step in a Client Action Plan ensures that the client takes the proper legal and procedural steps to maintain an accurate credit profile, which is essential for loan approval and financial planning.

Correct Answer:

File a dispute with the appropriate credit reporting agency.

Why Other Options Are Wrong:

Attach a letter to mortgage applications explaining the inaccuracies

While this may inform lenders, it does not correct the credit report itself and does not resolve the issue officially.

Investigate the reasons why the inaccuracies occurred to determine the responsible party

Understanding the source may be helpful, but it does not correct the inaccuracies and is not an official step in resolving credit reporting errors.

Include a personal consumer statement on the credit report

A consumer statement provides context but does not remove or correct inaccurate information; filing a dispute is necessary for correction.

Explanation:

In MySQL, SQL keywords like SELECT are not case-sensitive, so writing them in lowercase (select) or uppercase (SELECT) is valid. The standard and acceptable syntax is simply select (or SELECT) without quotes or special characters.

Correct Answer:

select

Why Other Options Are Wrong:

"select"

Placing the keyword in double quotes is incorrect in MySQL and would be interpreted as a string literal, not as a command.

SELECT_Keyword

This is not a recognized SQL keyword or syntax. The underscore and extra word make it invalid.

'select'

Single quotes are used for string literals, not for SQL commands. Using quotes would prevent the command from executing as a SQL statement.

Explanation:

The credit utilization ratio is the percentage of total available credit that a borrower is currently using. It is calculated by dividing the total outstanding credit balances by the total credit limits across all accounts. This ratio is an important factor in determining credit scores, as high utilization can signal risk to lenders, while low utilization reflects responsible credit management.

Correct Answer:

Credit utilization ratio

Why Other Options Are Wrong:

Credit balance

This term refers to the total amount owed on credit accounts but does not express it as a proportion of the total available credit, which is essential for calculating the utilization ratio.

APR

APR (Annual Percentage Rate) measures the yearly interest rate on borrowed funds, not the relationship between balances and credit limits.

Interest

Interest is the cost of borrowing money and is unrelated to the proportion of credit used relative to the credit limit.

Explanation:

A Loan Estimate is a standardized form provided to mortgage applicants that outlines the expected costs, terms, and fees associated with obtaining a mortgage. It includes information about interest rates, monthly payments, closing costs, and other important details to help borrowers understand the financial obligations of the loan and compare offers from different lenders. The Loan Estimate ensures transparency and informed decision-making in the mortgage process.

Correct Answer:

a form given to mortgage loan applicants that details expected costs to get the mortgage loan

Why Other Options Are Wrong:

an estimate of approximate total payments on a mortgage

While total payments may be included, the Loan Estimate provides detailed breakdowns, not just a simple total.

an estimate of the approximate amount of the monthly payment required

Monthly payments are part of the form, but the Loan Estimate covers much more than just the monthly payment.

an estimate of the approximate down payment needed

The Loan Estimate includes down payment information, but its purpose is broader, covering all expected costs and loan terms.

Explanation:

This is an example of sampling bias. Sampling bias occurs when the group selected for a study is not representative of the entire population being analyzed. By surveying only current subscribers, the magazine ignores non-subscribers and former subscribers, creating a non-representative sample that can skew the results.

Correct Answer:

Sampling

Why Other Options Are Wrong:

Confirmation

Confirmation bias involves interpreting information to support existing beliefs. The issue here is with who was surveyed, not how the results are interpreted.

Interpretation

Interpretation bias occurs when data is misread or misanalyzed. The scenario describes a flaw in selecting participants, not in analyzing their responses.

Observer

Observer bias happens when a researcher's expectations affect what they record or perceive. There is no indication that the researchers’ personal expectations influenced their observations.

Explanation:

In homeownership programs, a First-Time Homebuyer is generally defined as someone who has not owned a principal residence during the past three years. This designation allows the individual to qualify for certain assistance programs, such as down payment or closing cost help, that are designed to make purchasing a home more accessible for new buyers. The focus is on supporting those entering homeownership rather than repeat buyers or investors.

Correct Answer:

A person who has not owned a principal residence in the last three years and may qualify for special assistance programs

Why Other Options Are Wrong:

An individual who has previously owned multiple properties and is looking to invest in real estate

This describes a real estate investor, not a first-time homebuyer, and such individuals typically do not qualify for first-time homebuyer assistance programs.

Someone who is currently renting and has never owned any property

While often qualifying as first-time buyers, the key distinction in assistance programs is the “not owned a principal residence in the last three years” rule; this answer is too narrow and does not fully capture the program definition.

An individual who has owned a home but is now seeking to purchase a second property

This person is a repeat buyer and does not meet the criteria for first-time homebuyer programs, which focus on those entering homeownership for the first time or after a significant gap.

Explanation:

In most spreadsheet programs like Google Sheets or Excel, the “freeze” function is used to keep specific rows or columns visible while scrolling through the rest of the sheet. Freezing the header row ensures column titles remain at the top of the screen, making it easier to read and interpret data.

Correct Answer:

freeze

Why Other Options Are Wrong:

set

The term “set” is too vague and does not refer to a recognized spreadsheet feature for keeping rows visible. It does not provide the functionality needed to lock the header in place while scrolling.

lock

Locking cells prevents editing but does not keep a row visible during scrolling. Lock is for protecting content, not for maintaining visibility at the top of the sheet.

pin

Pinning is not a standard spreadsheet command for keeping a row stationary while scrolling. It is typically used in email or messaging apps to keep items at the top of a list, not in spreadsheets.

Explanation:

FHA-insured loans are designed to make homeownership more accessible. They allow buyers to make a low down payment, which reduces the upfront financial burden. FHA loans also have minimum property standards to ensure safe and livable conditions, and they offer long-term repayment options, which help lower monthly payments. These combined benefits make FHA financing advantageous for many homebuyers, particularly first-time buyers or those with limited savings.

Correct Answer:

All of the above

Why Other Options Are Wrong:

a low down payment

While this is true, it is only one of several benefits; FHA loans also provide minimum property standards and long-term repayment options.

minimum property requirements

This is accurate but incomplete without considering low down payment and long-term loan benefits.

long term loans which yield lower monthly payments

This is a correct benefit, but it does not encompass the full set of advantages provided by FHA-insured financing.

Explanation:

Queries are specific requests written in a database query language such as SQL to retrieve or manipulate data stored in relational tables. They allow analysts to select particular columns, filter rows based on conditions, join multiple tables, and perform calculations or aggregations. Queries serve as the primary method for interacting with the database to extract meaningful information without altering the underlying structure.

Correct Answer:

queries

Why Other Options Are Wrong:

relationships

Relationships describe how tables in a database are connected through primary and foreign keys. While relationships are essential for defining how data can be combined, they are part of the database’s design rather than the mechanism used to actively request or retrieve data. Without queries, simply having relationships does not allow analysts to access or analyze the data.

keys

Keys, including primary and foreign keys, uniquely identify records and establish links between tables. Although keys enable efficient joins and ensure data integrity, they do not themselves function as commands to extract data. An analyst must still write a query that utilizes these keys to perform operations across related tables.

programs

Programs are collections of instructions written in a programming language that can interact with databases, but they are broader and more general than queries. While a program might contain queries as part of its operations, writing an entire program is not necessary when the goal is simply to request and retrieve specific data from a relational database.