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