EPF W!SE FINAL QUIZIZZ

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify

• US Treasury Dept

• Fed Reserve Board

• FBI

Which financial product can you buy for $25, is safe, and will be worth $50 at a future date?

• Series EE savings bond

• Stock in Microsoft

• Mutual Fund

• CD

The financial institution where you have your checking account will pay out money for checks if

• it is cashed during business hours

• if it is deposited during business hours

• There is enough money in account

Which financial product has the most predictable income?

• Stocks

• Certificate of Deposit (CD)

• Mutual Fund

A person has 3 credit cards with large balances they can't afford. What do they do?

• notify credit reporting agency to avoid late fee

• Notify credit card company & Negotiate payment plan

When a person declares bankruptcy that fact will appear on the person's credit report

• forever

• for 3 years

• for 7 years

• for 10 years

To qualify for Federal Housing Administration (FHA) loan a person must generally

• provided to individuals to co-sign a loan

• fulfill income guidelines

When a person brings an item to a pawnshop to obtain cash, the transaction is considered

• a co-signed loan

• a payday loan

• a collateralized loan

• a sales agreement

What is meant by an uncollateralized loan?

• personal loan without assets to cover loan amount

• loan not backed by co-signer who agrees to cover loan amount

Which of the following is considered to be open-end credit?

• Car Loan

• Debit Card

• Departmetn store charge cards