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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
Auto Insurance
C
Life Insurance
D
Health Insurance
2) The non-for-profit financial cooperative associations are called ________________.
A
Pawn Shops
B
Credit Unions
C
Commercial Banks
D
Financial Institutions
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
immediately
B
at the end of the month
C
during your next billing cycle
D
2 weeks after the purchase
5) A warranty can protect consumers by _____________________.
A
assuring the quality of their protect
B
providing a sound financial plan
C
making certain the consumer is paying as much as possible
D
providing a return on investment
6) If a credit card balance is not paid in full, the amount of money you will eventually be liable for will ___________________.
A
stay the same
B
increase
C
not change
D
decrease
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 Deposit Insurance Corporation
B
Bank of the United States
C
Federal Reserve System
D
U.S. Common Bank
9) The property of goods pledged by a borrower to use as security against a loan if it is not paid is:
A
Character
B
Collateral
C
Capital
D
Capacity
10) The primary way banks generate profit is by:
A
Making Loans
B
Offering Checking Accounts
C
Offering Savings Accounts
D
Offering Certificates of Deposit
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
Credit Unions
C
Savings and Loans Associations
D
Finance Companies
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
Reconciliation order
B
Stop payment order
C
Canceled check
D
Overdraft protection
15) Checks that have been written but not yet cashed are:
A
Endorsed checks
B
Reconciled checks
C
Outstanding checks
D
Canceled checks
16) The ability to quickly turn an investment into cash is called:
A
Risk
B
Maturity rate
C
Inflation
D
Liquidity
17) The payment of a share of profits given to stock holders is called:
A
Dividend
B
Capital gain
C
Preferred fund
D
Stock
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
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
Virtual business
B
Start-up business
C
Brick and mortar business
D
Multi-channel business
20) The first step in budgeting is to_____________________________.
A
estimate your income
B
review what you spent
C
record what you spend
D
set your financial goals
*select an answer for all questions
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