Deca 46-54

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A debit card allows a person to

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pay for purchases directly from a checking or savings account.

Front

The highest interest rate on a loan is charged by a 

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pawnshop.

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Electronic banking allows customers to

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perform transactions 24 hours a day

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When a person asks her bank not to honor a specific check, it is called

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a stop-payment order.

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What can a person expect as a customer of a credit union? Options: A. Higher account fees and lower interest rates on loans than a commercial bank offers. B. Higher account fees and higher interest rates on loans than a commercial bank offers. C. Lower account fees and higher interest rates on loans than a commercial bank offers. D. Lower account fees and lower interest rates on loans than a commercial bank offers.

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Lower account fees and lower interest rates on loans than a commercial bank offers.

Front

What type of information is not found on a consumer’s credit report? A. Personal medical information. B. Criminal records. C. Employment history. D. Current and past addresses.

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Personal medical information.

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Hillary and Stephanie have both borrowed $15,000 from the same bank to buy the same model of a new car. Hillary's credit score is 732 and Stephanie's credit score is 588. Who is likely to pay a lower finance charge?

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Hillary.

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Choose the best suggestion for building and maintaining a good credit score: A. Have money in savings and protect against identity theft. B. Keep debt low and pay bills on time. C. Make safe investments and set clear financial goals. D. Comparison shop and follow a budget.

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Keep debt low and pay bills on time.

Front

What is true about loans? A. The lower the APR, the more interest is paid. B. The larger the down payment, the lower the principal. C. The shorter the length of the loan, the smaller the payments. D. The higher the APR, the less interest is paid.

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The larger the down payment, the lower the principal.