Per Fin Stew Test 2
Collateral
The use of property or savings to secure a loan relates to
$0.10 per oz
What is the unit price at a 32oz box of brown sugar that costs $3.20
pawnshop
When Imogene brought a necklace to a __________, she received a loan based on its value
A mortgage loan
Which of the following is an example of closed - end credit?
You receive bills for a credit card account you never opened
Which of the following is often the first sign of a stolen identity?
rebate
a partial refund of the original price of the product
Indexed CD
A certificate of deposit that has earnings based on the stock market is called a(n)
capacity
A loan officer is examining whether or not to offer you a loan today. Specifically, she is examining your income and debt which of the five C's of credit is the loan officer reviewing?
Mediation
A process used to settle grievances in a nonbinding process is called a(n)
$110,000
Acme HomeLending offers home equity loans up to 80% of the home value for its customers. If Sally Johnsen has a home valued at $200,000 and a current mortgage of $50,000 how much can she borrow in a home equity loan from Acme?
20%
Experts suggest that the debt payments to income ratio should be a maximum of
home equity loan
Have interest that is tax - deductible
limited warranty
Most products come with some guarantee of quality. this type of warranty covers only certain aspects of the product, such as parts
A debit card
Quentin wants his retail purchases to be deducted directly from his checking account which of the following tools should he use?
Depreciation
all of the following are variable operating costs for a vehicle except
Compounding
earning interest on previously earned interest
Residual value
expected value of the vehicle at the end of the lease
line of credit
the maximum amount of money a creditor will allow a credit user to borrow
unit pricing
the use of a standard unit of measurement to compare the prices of packages that are different sizes
Liquidity
which of the following refers to the opportunity to withdraw your moeny on short notice without incurring a loss in value?
A payday loan company
which of the following will likely provide the most expensive loans
