Chapter 11-13 Quiz - Intro to Personal Finance

Question 1

The following are financial institutions: Bank, Credit Card Company, Insurance Company, Credit Union, or Brokerage Firm?

Accepted Answer

True

Question 2

_____________ is the amount of money borrowed.

Accepted Answer

Principal

Question 3

Convenience, time, paperless, global access, portfolio managing, & real-time info are advantages of doing online banking

Accepted Answer

True

Question 4

Money a lender allows someone to use for purchases, w/ the agreement that it will be repaid later, often with interest.

Accepted Answer

credit

Question 5

Which of the following are NOT roles of the answer to the above question?

Accepted Answer

Regulate the stock market

Question 6

What does APR stand for?

Accepted Answer

Annual Percentage Rate

Question 7

What would be considered an excellent credit score and qualify you for the lowest interest rates?

Accepted Answer

720-850

Question 8

A numerical summary of the information contained in your credit report is called a _____________.

Accepted Answer

Credit Score

Question 9

When was the central bank founded?

Accepted Answer

1913

Question 10

What is the name of the central bank of the United States?

Accepted Answer

The Federal Reserve

Question 11

When private info, like your name, SSN, or bank account numbers are stolen and used without permission, usually

Accepted Answer

Identity Theft

Question 12

A credit report may include your address, debts, payment history, and number of credit cards.

Accepted Answer

True

Question 13

Experian, Equifax, and TransUnion are examples of:

Accepted Answer

Credit Bureaus

Question 14

The period of time during which the loan is paid is called the ________.

Accepted Answer

Term

Question 15

When money is deducted directly from customers checking account, this means they have used a _________ card.

Accepted Answer

debit

Questions 15