FIN 420 WEEK 2 Week 2 Quiz

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FIN 420 WEEK 2 Week 2 Quiz Buy Solutions: https://goo.gl/ZuZptE FIN 420 WEEK 2 Week 2 Quiz FIN 420 WEEK 2 Week 2 Quiz FIN 420 WEEK 2 Week 2 Quiz FIN/420 Week 2 Quiz 1. An increase in the value of a home is called • Depreciation • amortization • equity • appreciation 2. Which of the following is not true regarding loans based on the cash values built up in cash-value life insurance policies? • Insurance companies do not pressure borrowers to repay the debt. • The interest rates are low, ranging from 4 to 6 percent. • Many people fail to pay back such loans because no fixed schedule of repayment is established. • Should the insured person die before repaying the loan, the life insurance company will forgive the loan. 3. Which of the following sets NOW accounts apart from other checking accounts? • They pay interest. • They can be accessed by a debit card. • They are safer. • They are time deposits. 4. The APR can be used to compare credit contracts with different time periods, finance charges, repayment schedules, and amounts borrowed. • True • False 5. The contract supporting an installment loan is called a(n) • Garnishment • Indenture • chattel note • promissory note 6. Most younger people rent but 80 percent of those aged 55-64 are homeowners. • True • False 7. The term cooperative describes a method of ownership for housing rather than a type of building. • True • False 8. Which of the following is the best advice for people who want to start saving regularly? • Marry in haste, respect at leisure. • Pay yourself first. • There’s no fool like an old fool. • Fools and their money are soon parted. 9. Offers to purchase and counteroffers are all part of the negotiating process in buying a house. • True • False 10. Consumer installment loans typically are made with a fixed interest rate. • True • False V012518 FIN 420 WEEK 2 Week 2 Quiz

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FIN 420 WEEK 2 Week 2 Quiz Buy Solutions: https://goo.gl/ZuZptE FIN 420 WEEK 2 Week 2 Quiz FIN 420 WEEK 2 Week 2 Quiz FIN 420 WEEK 2 Week 2 Quiz FIN/420 Week 2 Quiz 1. An increase in the value of a home is called • Depreciation • amortization • equity • appreciation 2. Which of the following is not true regarding loans based on the cash values built up in cash-value life insurance policies? • Insurance companies do not pressure borrowers to repay the debt. • The interest rates are low, ranging from 4 to 6 percent. • Many people fail to pay back such loans because no fixed schedule of repayment is established. • Should the insured person die before repaying the loan, the life insurance company will forgive the loan. 3. Which of the following sets NOW accounts apart from other checking accounts? • They pay interest. • They can be accessed by a debit card. • They are safer. • They are time deposits. 4. The APR can be used to compare credit contracts with different time periods, finance charges, repayment schedules, and amounts borrowed. • True • False 5. The contract supporting an installment loan is called a(n) • Garnishment • Indenture • chattel note • promissory note 6. Most younger people rent but 80 percent of those aged 55-64 are homeowners. • True • False 7. The term cooperative describes a method of ownership for housing rather than a type of building. • True • False 8. Which of the following is the best advice for people who want to start saving regularly? • Marry in haste, respect at leisure. • Pay yourself first. • There’s no fool like an old fool. • Fools and their money are soon parted. 9. Offers to purchase and counteroffers are all part of the negotiating process in buying a house. • True • False 10. Consumer installment loans typically are made with a fixed interest rate. • True • False V012518 FIN 420 WEEK 2 Week 2 Quiz

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