Finance Review Question Preview (ID: 13499)


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The amount of a loan is also know as the:
a) Total
b) Collateral
c) Principle
d) None of the above

When a person's income is more than their expenses they have:
a) Debt
b) Savings
c) Budget
d) None of the above

Someone who purchases goods and services for personal use is a:
a) Consumer
b) Lender
c) Buyer
d) Trader

Someone who makes funds available to another with the expectation that the funds will be repaid plus interest:
a) Consumer
b) Trader
c) Lender
d) Buyer

A list of all planned expenses and income:
a) Bank statement
b) Budget
c) Capital
d) None of the above

The average mortgage last how long?
a) 360 months
b) 30 years
c) both A and B
d) None of the above

Which of the following is not one of the
a) Capital
b) Capacity
c) Caution
d) Conditions

A loan to buy a home that is guaranteed by the property the loan is being used to purchase.
a) Principal
b) Grant
c) Credit
d) Mortgage

A debit card represents
a) Money you are borrowing
b) Money you have in your checking account
c) Both A and B
d) Neither A or B

The cost of using money provided by a loan, mortgage, credit card, or line of credit.
a) Capital
b) Payment
c) Interest
d) Inflation

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