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. If the consumer makes the minimum payment - interest charges continue to accrue on all outstanding balances.






2. The process of taking a business' real assets and turning them into cash - either to pay off debt or to reap a personal profit






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






4. Aa financial institution that accepts deposits and channels the money into lending activities






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






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






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






8. Financial organization that specializes in automobile loans to consumers






9. Money lent: a loan given in cash - especially by an employer or credit card company - in anticipation of the borrower's being able to repay it






10. Failure to repay a debt






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






12. An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified borrower for a specified time period






13. An evaluation of a person's credit history






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






15. Minimum amount due on credit balance






16. 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.






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






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






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






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






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






22. 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






23. The maximum amount of credit a lender will extend to a customer






24. Taking away property due to failure to repay the debt






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






26. Interest rates are effective annual yields






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






28. Use their knowledge of federal - state - and local tax codes and publications to prepare tax returns and make sure that their clients do not pay unnecessary taxes.






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






30. 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






31. A claim upon property to satisy a debt






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






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






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






35. A payment required for not fulfilling a contract






36. 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.






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






38. Capacity - character and collateral

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


39. Yearly percmet amount it will cost a person to use credit






40. Puchasing more than your budget allows






41. 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






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






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






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






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






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






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






48. 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.






49. The crime of obtaining someone else's personal data and using it for financial gain or to defraud or deceive






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







Sorry!:) No result found.

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