Test your basic knowledge |

Subject : personal-finance
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Dealing with liquidation - provides for a court-appointed interim trustee to make management changes - arrange unsecured financing - and generally operate the debtor business to prevent loss.






2. Debt that has been incurred primarily for the purchase of consumer goods






3. Capacity - character and collateral

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


4. The total amount that a person is charged for borrowing money; includes interest plus any service charges or insurance premiums






5. One who places mortgage loans with lenders for a fee - but does not orginate or service loans.






6. Provides individuals with revolving open-end credit - which they can draw from repeatedly up to some preset limit






7. A claim upon property to satisy a debt






8. A numerical rating based on person's credit history that represents their credit worthiness






9. A legal document that provides a history of ownership and entitlement by the current owner






10. A company that collects information from various sources and provides consumer credit information on individual consumers for a variety of uses. It is an organization providing information on individuals' borrowing and bill paying habits.






11. Means that the APR can go up or down depending on economic factors






12. Provides a uniform manner of calculating and presenting the terms of consumer loans to enable you to compare costs so you can make informed choices about credit






13. The act of lending money at an interest rate higher than that permitted by law






14. Interest rates are effective annual yields






15. Home owners can borrow against the appraised value of their already purchased homes






16. One large loan made to consumers to pay several debts at once






17. The price a borrow pays a creditor for the use of money over a period of time






18. As related to credit - an evaluatin of a person's net worth






19. The date on which a financial obligation must be repaid






20. Puchasing more than your budget allows






21. A long-term loan extended to someone who buys property






22. An interest rate that moves up and down based on the changes of an underlying interest rate index






23. Loans for which the borrower is required to pledge specific assets as collateral or security






24. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.






25. Charge very high interest for loans based on the value of tangible assets (such as jewelry or other valuable items)






26. A period in which a debt may be paid without accruing further interest or penalty






27. Bank or business that allows somebody to purchase goods and services and pay for them later - often with interest






28. A number you choose and use to identify themselves to gain access to various accounts






29. The right to hold - possess - control and dispose of property






30. The amount left over after subtracting - as - for example - the amount owed on a loan (also called principal balance) or the amount in an account






31. Deals with debt adjustment or reorganization for individuals - allows people to put forward a plan to repay creditors over time - usually from future income






32. A record of whether or not a person has paid his or her bills on time in the past






33. A credit rating around 500 or lower is high enough risk that many lenders will refuse a line of credit - and those that do grant one will penalize the borrower with high interest rates and difficult terms.






34. A card used for making payments; balance must be paid in full when the statement is received






35. A nonprofit agency that gives free advice to people in financial difficulties






36. Legal process that allows someone deeply in debt to create a plan to repay their debts






37. A penalty for making a payment after the due date






38. Is a fellowship of men and women who share their experience - strength - and hope with each other that they may solve their common problem and help others to recover from compulsive debting. The only requirement for membership is a desire to stop inc






39. Is a loan that does not require collateral from the borrower






40. Minimum amount due on credit balance






41. The unscheduled partial or complete payment of the principal amount outstanding on a loan - such as a mortgage - before it is due.






42. Provided a temporary loan at a high interest rate until your next paycheck






43. A report showing all accumulated credit data on an individual; This is used for granting or denying credit






44. A court action in which a portion of an employee's wage is set aside to pay a debt owed a creditor






45. A loan that is repaid with a fixed number of periodic equal-sized payments






46. A payment required for not fulfilling a contract






47. An evaluation of a person's credit history






48. When someone with strong established credit signs a contract along with the borrower






49. A credit agreement that allows consumers to pay all or part of the outstanding balance on a loan or credit card. As credit is paid off - it becomes available again to use for another purchase or cash advance






50. One that requires you to keep a savings account as security






Can you answer 50 questions in 15 minutes?



Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests