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