Financial Literacy Exam Review (Part Two)

Which of the following allows a customer to pay a deposit, & then not receive the item until the balance is paid?

Federal income tax brackets can be impacted by which of the following?

If the value of one’s house increases, all the following will most likely rise EXCEPT:

Rent-to-own agreements can negatively impact consumers because:

When eating at a restaurant, one must consider which additional costs to the price of their meal and sales tax?

Which institutions may a person visit to receive money from a check if they do not have a traditional bank account?

When receiving a mortgage loan, if a person cannot make a large down payment, they will likely have to pay for what?

Which financial institution receives criticism for targeting people in poverty by charging high interest rates

When 1 party to a contract does not do what the contract requires, the individual has committed a what of the contract?

Which of the following is an advantage of maintaining a good credit score?

Which of the following is the typical amount of time in which a borrower must pay off a mortgage loan?

The phrase “balancing a checkbook” refers to which practice?

If one spends more money than they have in their bank account, they are charged a what?

When planning one’s personal budget, a variable expense is what?

The Rule of 72 is used to calculate what?

Sales tax amounts are generally established by which of the following?

Banks offer the service of a safety deposit box, which can be used for what?

Which of the following is the correct sequence in the formation of a contract?

Which of the following positions can confirm signatures to a contract?

When one is inspecting a banking or credit statement & discovers charges they did not make, it is most likely

When one invests in a commodity, they are investing in a what?

Which of the following practices could negatively affect one’s credit score?