Econ- Chapter 4, Section 2 Question Preview (ID: 60029)


Loans And Credit. TEACHERS: click here for quick copy question ID numbers.

Cost of credit expressed monthly in dollar's and cents:
a) Charge account
b) Credit card
c) Finance charge
d) Annual percentage rate

This type of card allows you to make a purchase and the amount is deducted from your checking or savings account:
a) Credit Card
b) Installment card
c) Membership card
d) Debit card

Credit given to a consumer allowing them to buy goods or services from a particular company or store and to pay it back later:
a) Charge account
b) Credit card
c) Finance charge
d) Annual percentage rate

Company that takes over contracts for installment debt from stores and adds a fee for collecting the debt:
a) Commercial bank
b) Savings and loan
c) Finance company
d) Savings bank

Depository institution owned and operated by its members to provide savings accounts and low interest loans only to its members:
a) Commercial bank
b) Savings and loan
c) Savings bank
d) Credit union

Depository institution originally set up to serve small savers overlooked by commercial banks:
a) Commercial bank
b) Savings and loan
c) Savings bank
d) Credit union

Financial institution that specializes in accepting savings deposits and making mortgage and other loans:
a) Commercial bank
b) Savings and loan
c) Savings bank
d) Credit union

Credit cards such as Visa and MasterCard are issued by:
a) Banks
b) Finance companies
c) Credit card companies
d) Mortgage companies

Financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit:
a) Commercial bank
b) Savings and loan
c) Savings bank
d) Credit union

Which type of financial institution controls the largest amount of funds and offers the widest range of services?
a) Savings bank
b) Commercial bank
c) Savings and loan
d) Credit union

A financial institution that is owned and operated by members to provide savings accounts and low interest loans is a:
a) Savings and loan
b) Credit union
c) Commercial bank
d) Savings bank

Cost of credit expressed as a yearly percentage:
a) Charge account
b) Credit card
c) Finance charge
d) Annual percentage rate

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