Banking Missed Part 2 Question Preview (ID: 15855)

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Interest calculated on both the principal and the accrued interest.
a) Compound interest
b) Capacity
c) Simple interest
d) Fixed Interest

overdraft means not having enough _______ in your account
a) Money
b) penalty
c) Credit
d) Bonds

he true cost of credit that must be disclosed on a loan agreement is called___________
a) there are state usury laws.
b) APR
c) tax and penalty free
d) Financial plans

If you have been denied credit, a job, a license, an insurance policy, or a loan based on your credit report. You are entitled to receive a free copy of that credit report within how many days of denial?
a) CD
b) money
c) 60
d) Capital

Need to be changed during different stages in life
a) A savings plan
b) Face value
c) unsecured loan
d) Financial plans

A savings plan
a) tax and penalty free
b) setting aside money for investments or Future use
c) Certificate of deposit
d) there are state usury laws.

your ability to repay the debt. Do you have sufficient $money to repay a loan
a) penalty
b) CD
c) Capital
d) Capacity

If you think interest rates will fall in the future, you should invest in long-term Fixed rate
a) money
b) Capital
c) CD
d) 60

Traditional IRA can be withdrawn but you must pay a __________
a) penalty
b) money
c) Capital
d) Capacity

collateral loan
a) A ______ loan is secured by some type asset you own
b) there are state usury laws.
c) The annual percentage rate (APR)
d) unsecured loan

an interrest rate that remains constant over the entire term of the loan
a) Face value
b) Collateral
c) Fixed Interest
d) Compound interest

A debit card does not have a ___________ of credit.
a) Face value
b) Financial plans
c) A savings Goal
d) revolving line

financial product can you buy for $25, is safe, and will be worth $50 at a future date?
a) revolving line
b) A savings plan
c) Truth in Lending Act
d) Series EE savings bond

A person is convinced that a lending institution is charging too much interest for a loan. This person should be aware that
a) there are state usury laws.
b) Series EE savings bond
c) tax and penalty free
d) A savings plan

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