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Final exam review finance Flashcards | StudBud
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Final exam review finance
Final exam review finance
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Let this quiz inspire your own quiz for formative assessment.
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
Suzy: College student with student loan debt; why does Suzy have a negative net worth?
Her credit history has not been checked
Interest rates on her student loans are high
Her liabilities exceed her assets
She claims no deductions on her taxes
2
Given your situation what is the best way to secure more credit?
pay the minimum payment each month
open more credit cards
secure a full time job, and pay the balance in full each month
3
Given your credit history, will your credit rating qualify you for a new car loan? You are at 540
yes, I have a lot of credit cards open
no, since your credit score is not desirable.
yes, I fit the average of people
No, I only have two cards in my name
4
You hit another car and the other car is not insured and you have front end damage. What covereage is best?
Uninsured
Liability
Comprehensive
Front-end
5
Tim attempted to borrow $ at the bank, he learned that his credit score is low. What is this likely to mean?
interest rates on his loan will be lower, since his credit score is low.
interest rates on his loan will be higher, since his credit score is low.
The price he needs the loan for will be higher due to his low score
The monthly loan payments will be lower due to his lower credit score.
6
If you are remodeling your home, what room will increase the equity?
workshop
kitchen
dining room
mudroom
7
What type of fraud is this?
Credit card
identity theft
stealing
phishing
8
You decide to delay your car purchase until you have a good credit score. What strategy will you use to accomplish this
get credit for rent and utilities
buy more products
open more credit cards
pay the minimum payment on my credit cards
9
Which term at 10% APR will yield the lowest final cost on a loan?
1 year
6 months
5 years
2 years
10
You use your debit card & select credit rather then using your pin. F/ which account will this money be deducted f/?
savings
credit union
checking
mastercard
11
How do you have secure passwords at home and work?
Write them on card in keep in a drawer
Save them on your computer in a document
use online secure services
Write them on a card & keep in wallet
12
Online ad says $150 for an item it's sold out in store, & you are offered a similar item at 2x the cost. What is this?
hit and catch
bait and switch
capital gain
Tally switch
13
What information will you find on the schumer box
Interest rates
Payment due date
APR, Grace period, annual fee
14
You are buying a car & will pay equal monthly payments for the five years of the loan.What type of credit does this fit?
Open-ended
Revolving
Closed-ended
Undisclosed
15
Which is a form of income?
High credit-card limit
A paycheck
Valuable jewelry
A car loan
16
Which APR at 24 months yields the lowest total interest monthly payment?
15%
10%
7%
8%
17
What strategy will help David and Liz increase their net worth?
Add more money to their savings
Keep paying the minimum amount
Making additional payments on their mortgage
18
Jo is a tech coordinator. He takes computer classes to stay current with the new software. Jo is investing in his...
Human capital
interest inventory
family
salary
19
Which characteristic best indicates a reputable depository institution?
Your family belongs there
FDIC designation
A friend referred you
You have been to the building
20
What technology makes it harder to counterfeit credit cards?
Signature on the back
security code
EMV chip
shopping in person
21
James and Ruth want to retire this year, what is your recommendation for them?
To buy more stock
To retire because they have a positive net worth
To find a second job for more money
To buy more bonds
22
If you are still interested in purchasing a car, what is the best option to build your credit?
pay higher interest
open more cards
find a co-signer for the loan
wait until you have more money
23
Which consumer protection law allows Joe to take time off from work without jeopardizing his position at his company?
MMA
FDA
CDC
FMLA
24
What compliance regulation would protect the actual cost as you wrote it when creating a new product?
Signature
copyright
patent
trademark
25
Your earnings a hairdresser are your only source of income which federal form will you use to file your taxes?
1080
1270
1040
1099
26
Meeting new associates through your local service organization, you meet them for coffee 2x a month. Example of...
Brainstorming
Networking
Role playing
Corporate meeting
27
Which of the endorsements is the most secure?
Full
Restrictive
Special
Blank
28
A new phone is planned for May. The manufacture can't promise delivery til mid Oct. This is what economic principle
Unequal cost
Product availability
Trade off
29
What is a high yield alternate retirement strategy you can choose besides the 401k?
Bonds
Savings account
Roth IRA
Checking account
30
From whom do you obtain your credit report?
Visa credit card
Discover credit card
a credit reporting agency
Your bank
