Business Ch 12 Part 2 Question Preview (ID: 17594)
Part 2.
TEACHERS: click here for quick copy question ID numbers.
this type of loan is used to buy real estate like houses or business property
a) mortgage
b) commercial loan
c) individual loan
d) line of credit
the bank agrees to lend a specific amount of money to be used at any time for any purpose. Always available
a) line of credit
b) commercial loan
c) mortgage loan
d) individual loan
if you want to take out a loan for a vacation (bad idea!) you would apply for a(n)
a) individual loan
b) commercial loan
c) mortgage loan
d) line of credit
high interest loan where you pay the bank on the day you get paid. Used by desperate people
a) payday loans
b) high risk loans
c) mortgage loan
d)
to start a commercial bank you simply need to have a location and enough money to fund deposits
a) false
b) true
c) brisket sandwich slathered in bbq sauce with coleslaw
d) cheese fries with ranch and bbq sauce
older style financial institutions that encouraged people to save their money in order to buy a house. Many of these failed in the 1980's
a) savings and loans
b) commercial bank
c) finance company
d) mortgage lender
not for profit banks set up by organizations for their customers to use. Not FDIC insured but have similar protection
a) credit unions
b) member banks
c) commercial banks
d) investment banks
offer short term loans to businesses and consumers but at much higher rates
a) finance companies
b) mortgage lenders
c) commercial banks
d) insurance companies
provide protection against things like fire and theft. These also provide loans to businesses and consumers
a) insurance companies
b) mortgage lenders
c) fire companies
d) theft deterrents
help you buy and sell stocks and bonds. may also offer other financial services
a) brokerage firms
b) insurance companies
c) day trader
d) stock company
the only thing you should even consider going into debt for is....
a) something that will increase in value
b) a car
c) a house
d) a stock or bond
the part of the loan that represents the amount you are borrowing
a) principal
b) lump sum
c) amortization
d) interest
what did we make in excel that showed every single payment over the life of the loan?
a) amortization table
b) loan table
c) interest paid
d) spreadsheet loan
who do the banks go to for their banking needs?
a) the fed
b) commercial banks
c) banking institutions
d) the white house
which of the following is not done by the federal reserve?
a) cash checks for you
b) control the money supply
c) regulate their member banks
d) print money
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