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Final Review Part 2
Test Description: Final Review Part 2
Instructions: Answer all questions to get your test result.
1) The most important insurance one should carry is __________.
A
Auto Insurance
B
Life Insurance
C
Health Insurance
D
Homeowners Insurance
2) The non-for-profit financial cooperative associations are called ________________.
A
Financial Institutions
B
Pawn Shops
C
Commercial Banks
D
Credit Unions
3) All of the following would provide smart financial service EXCEPT:
A
Credit Unions
B
Pay Day Loans
C
Savings and Loans
D
Commercial Banks
4) Debit Card charges are posted to your account ___________.
A
during your next billing cycle
B
immediately
C
at the end of the month
D
2 weeks after the purchase
5) A warranty can protect consumers by _____________________.
A
assuring the quality of their protect
B
providing a return on investment
C
providing a sound financial plan
D
making certain the consumer is paying as much as possible
6) If a credit card balance is not paid in full, the amount of money you will eventually be liable for will ___________________.
A
decrease
B
stay the same
C
increase
D
not change
7) The Consumer Credit Protection Act (Truth in Lending Act) requires creditors to ______________________.
A
provide partial disclosure of terms and total costs
B
provide minimal disclosure of terms and total costs
C
provide adequate disclosure of terms and total costs
D
provide full disclosure of terms and total costs
8) The central bank of the United States is the:
A
Federal Reserve System
B
Federal Deposit Insurance Corporation
C
U.S. Common Bank
D
Bank of the United States
9) The property of goods pledged by a borrower to use as security against a loan if it is not paid is:
A
Collateral
B
Character
C
Capacity
D
Capital
10) The primary way banks generate profit is by:
A
Making Loans
B
Offering Certificates of Deposit
C
Offering Checking Accounts
D
Offering Savings Accounts
11) Common Stock _______________________________.
A
is stock that does not pay dividends
B
is the stock that receives cash dividends before other stock holders receive any
C
yields the highest rate of return
D
provides the most basic form of corporation ownership
12) Not-for-profit banks set up by organizations for their customers are called:
A
Commercial Banks
B
Savings and Loans Associations
C
Finance Companies
D
Credit Unions
13) The measure or score of a person's ability and willingness to pay debts on time is:
A
Credit Rating
B
Credit Limit
C
Collateral
D
Capacity
14) In order for a bank not to cash a particular check is:
A
Stop payment order
B
Reconciliation order
C
Overdraft protection
D
Canceled check
15) Checks that have been written but not yet cashed are:
A
Canceled checks
B
Reconciled checks
C
Endorsed checks
D
Outstanding checks
16) The ability to quickly turn an investment into cash is called:
A
Liquidity
B
Inflation
C
Risk
D
Maturity rate
17) The payment of a share of profits given to stock holders is called:
A
Stock
B
Capital gain
C
Dividend
D
Preferred fund
18) If the value of the U.S. dollar goes up compared with a Euro:
A
The same amount of U.S. dollars will buy less French cheese.
B
It will take fewer Euros to buy American products.
C
The U.S. will reduce European imports.
D
It will take fewer dollars to buy Italian leather.
19) Doing business via the Internet is called:
A
Brick and mortar business
B
Multi-channel business
C
Start-up business
D
Virtual business
20) The first step in budgeting is to_____________________________.
A
record what you spend
B
set your financial goals
C
review what you spent
D
estimate your income
*select an answer for all questions
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