Question 1

In a straight bankruptcy,many,but not all,debts are forgiven.

Accepted Answer

A) True 
 B)False

Question 2

Which form of bankruptcy allows a debtor with a regular income to extinguish his or her debts from future earnings or other property over a period of time?

Accepted Answer

A) Chapter 7 
B) Chapter 11 
C) Chapter 13 
D) Chapter 15 
E) Chapter 17 
A) Chapter 7 
B) Chapter 11 
C) Chapter 13 
D) Chapter 15 
E) Chapter 17

Question 3

If creditors add finance charges after subtracting payments made during the billing period,this is called the:

Accepted Answer

A) APR method. 
B) discount method. 
C) previous balance method. 
D) adjusted balance methoD. 
E) average daily balance method. 
A) APR method. 
B) discount method. 
C) previous balance method. 
D) adjusted balance methoD. 
E) average daily balance method.

Question 4

Jeff Bloom wants to have a house just like the one his parents had when he was a teenager.He finds the house he wants and gets an interest-only loan on it for the first five years.Which one of the answers best explains Jeff's spending?

Accepted Answer

A) misunderstanding or lack of communication 
B) the use of money to punish 
C) the expectation of instant comfort 
D) keeping up with the Joneses 
E) overindulgence of children 
A) misunderstanding or lack of communication 
B) the use of money to punish 
C) the expectation of instant comfort 
D) keeping up with the Joneses 
E) overindulgence of children

Question 5

If a new-car loan costs 6%,a used-car loan would cost approximately ___ percent.

Accepted Answer

A) 0 
B) 1 
C) 6 
D) 7 
E) 12 
A) 0 
B) 1 
C) 6 
D) 7 
E) 12

Question 6

Which formula dictates that you pay more interest at the beginning of the loan and pay less and less interest as the debt is reduced?

Accepted Answer

A) adjusted balance method 
B) previous balance method 
C) the rule of 78s 
D) average daily balance 
E) accelerated balance 
A) adjusted balance method 
B) previous balance method 
C) the rule of 78s 
D) average daily balance 
E) accelerated balance

Question 7

The rule of 78s formula dictates that you pay less interest at the beginning of a loan.

Accepted Answer

A) True 
 B)False

Question 8

What can you do if you are unable to meet your credit obligations?

Accepted Answer

The answer of What can you do if you are...

Question 9

In what ways can you lower the risk to your lender in order to reduce your borrowing costs?

Accepted Answer

The answer of In what ways can you lower the...

In a straight bankruptcy,many,but not all,debts are forgiven.

Which form of bankruptcy allows a debtor with a regular income to extinguish his or her debts from future earnings or other property over a period of time?

If creditors add finance charges after subtracting payments made during the billing period,this is called the:

Jeff Bloom wants to have a house just like the one his parents had when he was a teenager.He finds the house he wants and gets an interest-only loan on it for the first five years.Which one of the answers best explains Jeff's spending?

If a new-car loan costs 6%,a used-car loan would cost approximately ___ percent.

Which formula dictates that you pay more interest at the beginning of the loan and pay less and less interest as the debt is reduced?

The rule of 78s formula dictates that you pay less interest at the beginning of a loan.

What can you do if you are unable to meet your credit obligations?

In what ways can you lower the risk to your lender in order to reduce your borrowing costs?

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Consumer Purchasing Strategies and Legal Protection

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

Filters

Exam 7: Choosing a Source of Credit: The Costs of Credit Alternatives

In a straight bankruptcy,many,but not all,debts are forgiven.

Which form of bankruptcy allows a debtor with a regular income to extinguish his or her debts from future earnings or other property over a period of time?

If creditors add finance charges after subtracting payments made during the billing period,this is called the:

Jeff Bloom wants to have a house just like the one his parents had when he was a teenager.He finds the house he wants and gets an interest-only loan on it for the first five years.Which one of the answers best explains Jeff's spending?

If a new-car loan costs 6%,a used-car loan would cost approximately ___ percent.

Which formula dictates that you pay more interest at the beginning of the loan and pay less and less interest as the debt is reduced?

The rule of 78s formula dictates that you pay less interest at the beginning of a loan.

What can you do if you are unable to meet your credit obligations?

In what ways can you lower the risk to your lender in order to reduce your borrowing costs?

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Consumer Purchasing Strategies and Legal Protection

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

Filters