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Banking & Credit Flashcards | StudBud
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Banking & Credit
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chpt 10
Flashcards
29 cards
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Practice quiz
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Questions
29
Answers
1
To stop Payment on a debt is called......
Transcended
Default
Bankruptcy
Foreclosure
2
Money that is made after taxes is called
Net
Yield
Balloon Payment
Gross
3
How many free credit reports are people allowed a year?
4
2
1
3
4
Which is not a type of unemployment?
Seasonal
Frictional
Structural
Variable
5
This word that is not defined as money earned is .....
profit
income
gross
yield
6
Which of the following is not an example of a municipal bond
bond to build a park
bond to build a school
bond to build a free way
bond to build a private house
7
Which is an example of diversification?
owning stock and property
owning property
owning a business
owning stock
8
This is extra money paid on money that is borrowed ...
interest
gross
balloon payment
yield
9
The age at which money can be withdrawn from your retirement accounts without penalty?
60
55
65
70
10
How many days is it before credit cards charge interest on a purchase?
20
40
10
30
11
Debt Cards with credit card logos take money out of your account...... now or 30 days?
in 30 days
you choose
Now
12
What is an example of M1?
$20.00 bill
gift card
credit voucher
check
13
Which is an example of retirement account?
401k
Tbill
saving bond
certificate of deposit( CD)
14
The Fair Reporting Act is
A law on how to fix bad credit
A law that says what a fair loan is
A law that requires creditors to furnish info to borrows
15
The date interest is due is called......
maturity
yield
dividend
roll over
16
This is the money a person keeps after their earnings are taxed.
net
gross
17
What does NOT determine how much interest you pay on a credit card?
Credit History
Age
Contract
Credit Score
18
A good credit score is usually over
600
700
500
400
19
In Economics a principal is.....
money borrowed
money loss
extra money paid on money borrowed
extra money given to you for accounts
20
Which of the following would result in lender reporting a person as a credit risk?
Borrowing a lot of money
Paying off a loan in the first month
Paying on time
Not paying on time
21
Money that is made before taxes is called....
Net
Interest
Gross
Yield
22
This mortgage has interest and a monthly payment that never change.
ARM
Fixed interest
23
What is NOT an example of M2 ?
$20.00 bill
gift cards
credit voucher
checks
24
Which is not a credit reporting agency?
Trans Union
Experian
Annex
Equifax
25
In an Adjustable Rate Mortage (A.R.M.) loan you have to make a payment in 2-5 years. It is called.....
gross
net
yield
balloon payment
26
A Transaction where payment is taken out of your account instantly
Credit Voucher
Gift Card
Debit Card
Credit Card
27
What does the FDIC do?
monitors internet e-commerce
insures deposits in banks
monitors the stock market
monitors banks for wrong doing
28
This is a retirement account that allows some money to be invested in the stock market.
CD
Mutual Fund
401k
Tbill
29
This is when people do not have a job but, are actively looking for work.
Hired
Retired
Tired
unemployed
