Exam 6: Introduction to Consumer Credit
Exam 1: Personal Finance Basics and the Time Value of Money111 Questions
Exam 2: Financial Aspects of Career Planning101 Questions
Exam 3: Money Management Strategy: Financial Statements and Budgeting105 Questions
Exam 4: Planning Your Tax Strategy108 Questions
Exam 5: Financial Services: Savings Plans and Payment Accounts99 Questions
Exam 6: Introduction to Consumer Credit181 Questions
Exam 7: Choosing a Source of Credit: The Costs of Credit Alternatives136 Questions
Exam 8: Consumer Purchasing Strategies and Legal Protection99 Questions
Exam 9: The Housing Decision: Factors and Finances99 Questions
Exam 10: Property and Motor Vehicle Insurance115 Questions
Exam 11: Health, Disability, and Long-Term Care Insurance159 Questions
Exam 12: Life Insurance167 Questions
Exam 13: Investing Fundamentals125 Questions
Exam 14: Investing in Stocks142 Questions
Exam 15: Investing in Bonds135 Questions
Exam 16: Investing in Mutual Funds138 Questions
Exam 17: Investing in Real Estate and Other Investment Alternatives144 Questions
Exam 18: Starting Early: Retirement Planning175 Questions
Exam 19: Estate Planning151 Questions
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In the 5 Cs of credit, capacity refers to the borrower's financial ability to meet credit obligations.
(True/False)
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A credit arrangement that has no extra costs and no specific repayment plan is called:
(Multiple Choice)
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What is consumer credit? What are its advantages and disadvantages?
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The Fair Credit Billing Act has a provision in which a lender can threaten your credit rating while you are resolving a billing dispute.
(True/False)
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What would be the maximum limit for an individual's debt-to-equity ratio, excluding the home mortgage?
(Multiple Choice)
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The Fair Credit Reporting Act regulates the use of credit reports, requires the deletion of obsolete information, and gives consumers access to their files.
(True/False)
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With an open-end credit, you pay back one-time loans in a specified period of time in equal amounts.
(True/False)
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Jennifer Garner purchases a sofa, love seat and reclining chair for her family room and will make payments of $65 per month for the next twenty-four months. What type of credit did Jennifer use?
(Multiple Choice)
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Jane Calvert is applying for a loan from a bank. The bank knows she owns a house worth $150,000 and a car with a trade-in value of $15,000 as well as other personal assets worth approximately $50,000. Which one of the 5 Cs of credit is the bank looking at?
(Multiple Choice)
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Which of the following federal consumer credit laws sets the procedures for promptly correcting billing errors?
(Multiple Choice)
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Charles Rickman is applying for a loan from the bank. The bank has determined that he has never been late making payments on past loans. Which of the 5 Cs of credit is the bank looking at?
(Multiple Choice)
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Which federal consumer credit law provides specific cost disclosure requirements for the annual percentage rate and the finance charge as a dollar amount?
(Multiple Choice)
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The Equal Credit Opportunity Act is very specific about how a person's age may be used in credit decisions.
(True/False)
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