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Q 1/30
Score 0
1. The rate the bank charges their best customer is referred to as the prime rate.
30
True
False
Q 2/30
Score 0
The price paid for an insurance policy is called the deductible.
30
False
True
30 questions
Q.
1. The rate the bank charges their best customer is referred to as the prime rate.
1
30 sec
Q.
The price paid for an insurance policy is called the deductible.
2
30 sec
Q.
An allowance period is the time between the billing date and the start of interest charges.
3
30 sec
Q.
Most financial experts agree that families should set aide at least 20% of their disposable income each pay period.
4
30 sec
Q.
Minors are not considered competent parties to enter into an agreement.
5
30 sec
Q.
Inflation does not affect your investment strategy.
6
30 sec
Q.
Credit files are updated monthly by computers and search procedures.
7
30 sec
Q.
To shift or transfer risk, you buy insurance.
8
30 sec
Q.
Interest-bearing accounts pay interest when the minimum balance is maintained.
9
30 sec
Q.
A debit card is the same as a credit card.
10
30 sec
Q.
A money order is a personal check that the bank guarantees to be good.
11
30 sec
Q.
The cost of credit is determined by subtracting the cash paid from the total price and adding in all finance charges.
12
30 sec
Q.
A good rule of thumb is that small amount purchases should not be charged but should be paid in cash.
13
30 sec
Q.
A savings account is a risky investment.
14
30 sec
Q.
An annuity is a contract issued by an insurance company that pays a series of regular payments, usually after retirement.
15
30 sec
Q.
The calculation for simple interest is _____________ x interest rate x time.
16
30 sec
Q.
The five C’s of credit include all of the following except _____________.
17
30 sec
Q.
The total amount of taxes owed is called _____________.
18
30 sec
Q.
Many companies offer _____________, which is an automatic deposit of net pay to an employee’s designated bank account.
19
30 sec
Q.
Which of the following assets is the most liquid?
20
30 sec
Q.
Writing the words “For Deposit Only” on the back of a check before your signature constitutes a
21
30 sec
Q.
A check written by the bank on its own funds is a _____________.
22
30 sec
Q.
The value of a house less the amount still owed on the money borrowed to purchase it is called the _____________.
23
30 sec
Q.
The 9-digit number printed on a check that identifies the bank that holds the checking account and the Federal Reserve District the bank is located in is called the
24
30 sec
Q.
In a lease agreement, a tenant may have to pay the landlord a security deposit to
25
30 sec
Q.
Holding a variety of investments in order to reduce risk is called _____________.
26
30 sec
Q.
The purpose of a retirement savings is to _____________.
27
30 sec
Q.
When buying a home, a buyer can lower the interest rate on the loan by
28
30 sec
Q.
Personal property put up to guarantee a loan should the borrower fail to repay is called
