Finance Semester 1 Final Exam

Making several credit card payments in a month instead of one large payment will help improve a person's credit mix.

• True

• False

A lower credit score means you are less risky to lenders.

• True

• False

Liquidation is the legal process used to get out of debt when you can no longer make all your required payments.

• True

• False

Electronic banking is also known as EFT.

• True

• False

From the time the FDIC was established, no depositor has ever lost insured funds.

• True

• False

Which of the following refers to making payments on time?

• Collateral

• Capacity

• Conditions

• Character

How much interest is charged for one year on a $12,000 loan with 4.7% interest.

Which federal agency oversees the stock exchanges?

• CPSC

• FTC

• SEC

• BBB

If your paycheck is $1,000, and you have to pay 1.5% tax, how much is the tax?

If your paycheck is $2,000, and you have to pay 3.00% tax, how much is the tax?