Impact of Finance on Marketing Marketing 1A Unit 6 Quiz

What department is responsible for keeping track of the company's earnings, spending, and profits?

• customer service

• marketing

• finance

• human resources

Unlike credit cards, _____ cards do not affect a person’s credit score in any way even though, like credit cards, they are used to purchase things (except that you can only spend the amount of money available in your account).

• lottery cards

• gift cards

• birthday cards

• debit cards

Credit cards issued by some entities are a type of revolving credit account that can only be used under certain conditions. What is an example of this type of revolving credit account?

• using your Visa to fund your cross-country road trip

• using your Shell card to get gas at Shell gas stations

• using your Mastercard to buy Christmas gifts all over town

• using your American Express to shop online

What term refers to credit accounts that have a fixed payment over a fixed period and require customers to make regular monthly payments at a set amount until they pay back the full amount of the loan?

• installment accounts

• revolving accounts

• social security accounts

• investor accounts

Auto loans, usually issued by banks, credit unions, and other lending companies, can typically be paid off in how many months, depending on the terms set by the lender?

• 24 to 48

• 75 to 120

• 50 to 55

• 48 to 60

What type of interest is based on the original amount of money lent out, or the principal?

• simple interest

• compound interest

• investor interest

• revolving interest

What term best applies to a type of loan designed for personal use that is traditionally used by individuals to purchase items such as cars, homes, or home appliances?

• revolving loan

• installment loan

• personal loan

• cash flow loan

Yousef has been approved for a type of revolving account where a lender uses Yousef’s home as a guarantee that he’ll pay back the money he borrows. What do we call this type of revolving credit account?

• bank credit card

• home equity line of credit

• credit card issued by another entity

• personal debit card

If you think of two important departments in a company as each being one half of a brain, the ______ department is the half that does all the creative thinking and ideation, while the ______ department makes all the analytical and logical decisions regarding budget.

• marketing; finance

• human resources; advertising

• finance; marketing

• customer; conceptual

What type of interest is based on the principal amount and accumulated interest?

• compound interest

• simple interest

• investment interest

• revolving interest