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1. The convenience of using a financial institution with 24­hour

1. The convenience of using a financial institution with 24­hour banking frequently requires a trade­off with A. safety. B. personal service. C. growth of savings. D. liquidity. E. a lower rate of return. 2. A trust has the purpose of A. solving a person's financial problems. B. obtaining.
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1. The convenience of using a financial institution with 24­hour
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41. Lenders commonly use a TDS ratio of                   and

41. Lenders commonly use a TDS ratio of                   and a GDS ratio of                     to help determine the amount most people can comfortably afford for housing. A. 20%? 30% B.  40%? 20% C.  40%? 30% D. 30%? 20% E. 20%? 40% 42. Given the following, calculate the GDS.
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41. Lenders commonly use a TDS ratio of                   and
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109. Referring to over indebtedness as one of the nation's

109. Referring to over indebtedness as one of the nation's main family financial problems, an expert on consumer affairs lists 7 frequent reasons for indebtedness. List and briefly describe these. 110. In regards bankruptcy and insolvency, briefly define a consumer proposal. Who is eligible for this type of insolvency protection application? .
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109. Referring to over indebtedness as one of the nation's
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41. A $100 savings account that earns $5 interest in

41. A $100 savings account that earns $5 interest in a year has a yield of                        percent. A. 6 B. 5 C. 4.75 D. 3.75 E. 6.5 42. Savings compounded                        would have the lowest effective yield A. monthly B. annually C. semi­annually D. daily E. weekly 43. If the.
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41. A $100 savings account that earns $5 interest in
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59. Credit an arrangement to receive cash, goods, or services

59. Credit is an arrangement to receive cash, goods, or services now and pay for them in the future. 60. Consumer credit refers to the use of credit for personal needs (except a home mortgage) by individuals. 61. Most consumers have only one choice in financing current purchases. 62. Consumer credit is based.
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59. Credit an arrangement to receive cash, goods, or services
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51. The term "sub­prime mortgage crisis" refers to A. the

51. The term "sub­prime mortgage crisis" refers to A. the difficulty new home owners have in negotiating a low interest rate with banks B. obtaining a mortgage interest rate of 8 percent instead of 7 percent C. the financial crisis precipitated in 2007 after a sharp increase in mortgage foreclosures D..
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51. The term "sub­prime mortgage crisis" refers to A. the
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31. The borrower's attitude toward his or her credit obligations

31. The borrower's attitude toward his or her credit obligations is called A. capacity. B. capital. C. character. D. collateral. E. conditions. 32. The borrower's financial ability to meet credit obligations is called A. capacity. B. character. C. capital. D. collateral. E. conditions. 33. A term that refers to the.
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31. The borrower's attitude toward his or her credit obligations
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11. A cooperative housing arrangement involves A. government­supported rental units. B.

11. A cooperative housing arrangement involves A. government­supported rental units. B. a nonprofit organization. C. individual ownership of a living unit in a building. D. factory built and on­site assembly. E. housing units owned by a real estate developer. 12. Brian Pittman rents a living unit as a result of.
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11. A cooperative housing arrangement involves A. government­supported rental units. B.
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79. Credit life insurance provides for the repayment of the

79. Credit life insurance provides for the repayment of the loan if the borrower dies. 80. Most borrowers should buy credit life insurance. 81. The consumer credit laws require that an advance notice be given before repossessing a car. 82. If you are having trouble paying your bills, turn to a company that.
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79. Credit life insurance provides for the repayment of the
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31. A                        endorsement would be used if a person

31. A                        endorsement would be used if a person is presenting a cheque in order to obtain cash. A. restrictive B. common C. special D. blank E. documented 32. The first information to be recorded when writing a cheque is the A. date. B. cheque stub or cheque.
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31. A                        endorsement would be used if a person
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89. Increasingly, the bankruptcy debtor likely to be female. 90. For

89. Increasingly, the bankruptcy debtor is likely to be female. 90. For some debtors, bankruptcy has become an acceptable tool of credit management. 91. During the last decade, the personal bankruptcy rate has increased almost 8 percent annually. 92. Your only choice in declaring personal bankruptcy is through an assignment in bankruptcy. 93. You.
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89. Increasingly, the bankruptcy debtor likely to be female. 90. For
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80. How taxable income computed? 81. Cameron Nelson wants to complete

80. How is taxable income computed? 81. Cameron Nelson wants to complete his own federal income tax return. He has several questions about the tax form to use and what items should be reported as income. What sources of assistance would you recommend for Cameron? 82. What is the difference between the marginal.
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80. How taxable income computed? 81. Cameron Nelson wants to complete
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99. If you declare bankruptcy, you do not have to

99. If you declare bankruptcy, you do not have to pay alimony, child support, or educational loans. 100. The most inexpensive loans available are provided by finance companies, retailers, and banks through credit cards. 101. Credit unions often offer the same range of consumer loans that banks and other financial institutions do. 102..
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99. If you declare bankruptcy, you do not have to
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65. Deductions amounts that a taxpayer allowed to deduct from

65. Deductions are amounts that a taxpayer is allowed to deduct from taxable income. 66. There is no significant difference between a federal tax credit and a federal tax deduction. 67. Most taxpayers have to file quarterly payments of estimated amounts owed for taxes. 68. Tax assistance from an attorney is less common.
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65. Deductions amounts that a taxpayer allowed to deduct from
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11. The major service offered by investment companies is A.

11. The major service offered by investment companies is A. interest­bearing checking accounts. B. variable­rate loans. C. credit card accounts. D. savings bonds. E. mutual funds. 12. A financial institution organized for the main purpose of providing loans to purchase homes is a A. mortgage and loan company. B..
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11. The major service offered by investment companies is A.

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49. By evaluating your credit options, you can reduce your

49. By evaluating your credit options, you can reduce your finance charges. 50. After you have selected a product, you should buy it immediately before the store runs out of it. 51. The most expensive loans available are provided by finance companies, retailers, and banks through credit cards. 52. Using parents or family.
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49. By evaluating your credit options, you can reduce your
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69. Creditors use the same system to calculate the balance

69. Creditors use the same system to calculate the balance on which they assess finance charges. 70. The fairest method of calculating the interest is the adjusted balance method. 71. The consumer proposal is a maximum five­year plan for paying creditors all or apportion of the total debt owed. 72. The fairest method.
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69. Creditors use the same system to calculate the balance
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31. What effective rate of interest being charged when the

31. What effective rate of interest is being charged when the quoted APR is 6%, compounded semi­ annually? A. 6.00% B. 6.09% C. 6.17% D. 6.18% E. 6.50% 32. Identify the correct statements. I. Shortening the term of a loan will reduce total interest charges. II. The interest component of each installment loan payment.
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31. What effective rate of interest being charged when the
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21. Debt­to­equity ratio is A. a useless ratio for determining

21. Debt­to­equity ratio is A. a useless ratio for determining your credit capacity. B. calculated by dividing monthly debt payments by net monthly income. C. determined by dividing your assets by liabilities. D. calculated by dividing total liabilities by net worth. E. rarely used by creditors in determining credit.
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21. Debt­to­equity ratio is A. a useless ratio for determining
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21. Savings compounded                        would have the highest effective

21. Savings compounded                        would have the highest effective yield A. monthly B. annually C. semi­annually D. daily E. weekly 22. Comparison of earnings for different savings plans can best be accomplished using the A. discounted present value. B.  compounded rate of return. C. net present value. D. effective.
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21. Savings compounded                        would have the highest effective
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73. What the main types of financial institutions used by

73. What are the main types of financial institutions used by consumers? 74. Evan Kostakis is living in this country while going to school. He is not familiar with the  operation of savings plans available to consumers. What factors would you recommend that he consider when evaluating and comparing different savings.
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73. What the main types of financial institutions used by
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49. The use of electronic banking does not add to

49. The use of electronic banking does not add to the "float" time for financial services customers. 50. Time deposits are more commonly referred to deposits made to savings accounts and investment certificates. 51. ATM fees are about the same in different geographic areas. 52. Lower returns on savings will usually result in.
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49. The use of electronic banking does not add to
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