Slobo Is an Immigrant to the United States from a Formerly

question 125

Multiple Choice

Slobo is an immigrant to the United States from a formerly communist country. He is searching for advice to help him succeed in a capitalist system. He would be well advised to:

• A) find a job and live frugally in order to save money to invest.
• B) rely heavily on government assistance programs to maintain a relatively comfortable life style.
• C) get a credit card, even if it has a very low credit limit, and use it to establish a good credit rating.
• D) follow the buy now, pay later rule of personal finance.

---

Definitions:

SIP

An acronym that can refer to several concepts, including Systematic Investment Plan, which allows investors to contribute small amounts periodically into a mutual fund.

EIS

An Environmental Impact Statement, a document prepared to describe the effects for proposed activities on the environment, often required for major projects to assess their environmental consequences.

Federal Agency

A government body in the United States created by the Congress to enforce laws and regulations in a specific area of responsibility.

CEQ

The Council on Environmental Quality, a federal agency coordinating federal environmental efforts and advising the president on environmental policy.