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