26. If you have to borrow/charge expenses on your credit cards each month you鈥檙e considered to be what? (1 point)
鈥淟iving with your means鈥?br>
鈥淟iving below your means鈥?br>
鈥淟iving above your means鈥?br>
鈥淟iving at your means鈥?br>
27. What type of debt charges the highest interest rate? (1 point)
automobile debt
lease debt
secured debt
unsecured debt
28. Which is NOT one of the credit reporting agencies? (1 point)
Experian
TransUnion
Equifax
TransMeridian
29. A very low credit score usually means you will get what?
(1 point)
declined for loans
low interest rates
low finance charges
high available balances
30. Credit that is applied for once, and then is available until the consumer defaults or closes the account is called what type of credit? (1 point)
revolving credit
charge credit
income credit
department credit
31. What is NOT considered when calculating a credit score? (1 point)
personal income
payment history
credit history
length of credit history
32. When two sellers trade items without exchanging currency it鈥檚 called what? (1 point)
negotiating
bartering
financing
economics
33. What was the earliest form of currency called? (Hint: China around 1200 B.C.) (1 point)
leather cards
sea shells
cowry shells
wooden coins
34. The first international form of currency policy to control inflation was called the what? (1 point)
World Trade Organization
North American Free Trade Agreement
Gold Standard
European Trade Standard
35. If a computer is on sale for $1,099.10 and there is an additional 15% off at the register, what will the total cost be? (1 point)
$934.24
$1,263.96
$974.88
$988.45
36. The abbreviation FICO stands for what? (1 point)
Fraud-Index Corporation
Fair-Index Corporation
Fair-Issac Corporation
Fraud-Issac Corporation
37. When someone leases a car, who owns the title to the automobile? (1 point)
the automobile manufacturer
the financing bank
the automobile dealership
the driver
38. What part of a personal budget should be the largest expense? (1 point)
spending money
savings
housing
insurance
39. When a company hires an employee, what does the company expect from the employee? (1 point)
expenses
productivity
purchasing power
income
40. The amount of products or services that someone can buy with the amount of money they have is called what? (1 point)
personal purchasing power
purchasing power parity
consumer price index
value power
41. Banks make money by charging borrowers what? (1 point)
late payment fees
interest rates
financing charges
all of the above
42. The money you pay to keep an insurance policy in effect is called a what? (1 point)
deductible
co-pay
premium
expense
43. The money you borrow from a bank or any other lender is called what? (1 point)
principal
investment
interest
equity
44. Your credit score determines whether or not you what? (1 point)
are approved or denied a loan
are given a high or low interest rate
are approved or denied a credit card
all of the above
45. The loans that individuals take out to continue their education are called what? (1 point)
educational loans
student loans
optional loans
deferred loans
46. Which of the following is NOT considered a small ticket item? (1 point)
a toaster
an automobile
a pack of gum
a cup of coffee
47. When an asset such as a home or a car decreases in value over a long period of time it鈥檚 called what? (1 point)
decay
depreciation
appreciation
neglect
48. Charge cards differ from credit cards in what ways? (1 point)
they require you to pay the full balance at the end of the billing period
they don鈥檛 allow you to make cash advances
they don鈥檛 accept balance transfers
all of the above
49. The marketing offers provided by credit card companies are called membership __________? (1 point)
bonuses
benefits
incentives
gimmicks
50. If you have $2,000.00 on a credit card and the interest rate is 21.8% per year. How much interest will you pay for one year? (Interest is compounded monthly, but to simplify your activity, just multiply it.) (1 point)
$463.00
$436.00
$521.00
$400.00 26. C
27. D
28. D
29. A
30. A
31. A
32. B
33. B
34. C
35. A
36. C
37. B
38. C
39. B
40. A
41. D
42. C
43. A
44. D
45. B
46. B
47. B
48. A
49. B
50. B You should be asking this under homework help. Also, if you open your textbook, you will probably find all of the answers. you should answer "C" for all of them. 26.B
27.D
28.D
29.A
30.A
31.A
32.B
33.B
34.C
35.A
36.C
37.B
38.C
39.B
40.A
41.D
42.C
43.A
44.D
45.B
46.B
47.B
48.A
49.C
50.B Well, you suckered two people into answering, although there's a bit of disagreement here and there.
I say do your own work and stop just getting answers from other people. You're never going to get through life if you take the lazy way out all the time. 26.B
27.D
28.D
29.A
30.A
31.A
32.B
33.B
34.C
35.D
36.C
37.B
38.C
39.B
40.A
41.D
42.B
43.A
44.D
45.B
46.D
47.B
48.A
49.C
50.A | 