Wise test Review all topics latest 2023 graded A+

Wise test Review all topics latest 2023 graded A+ security given for loan, assets to secure the debt Collateral your ability to repay the debt. Do you have sufficient $money to repay a loan Capacity "net worth". wealth in the form of money or property owned by a person Capital good reputation, Integrity Character a summary of a person's borrowing and repayment history Credit history In the event that your credit card is stolen in the United States, federal law limits the liability of card holders to ____ regardless of the amount charged on the card by the unauthorized user. 50 dollars if just the credit card account number itself is stolen, federal law guarantees that the card holder has a___________to the issuer. zero liability "Owes nothing" electronic funds transfer; exchange of money by sending bank records via a computer network EFT the federal government protects your money up to $250,000 in a single account FDIC Which of the following is considered to be open-end credit? Department store charge cards. A person has three credit cards with very large outstanding balances and is unable to make payments on any of them. Which action should the person take Notify the credit card companies When a person declares bankruptcy that fact will appear on the person?s credit report 10 years What is meant by an uncollateralized loan? A personal loan without assets to cover the loan amount When a person brings an item to a pawnshop to obtain cash, the transaction is considered a collateralized loan Which of the following does the Federal Reserve use to regulate the nation's money supply? Monetary policy The primary sources of income for most people between the ages of 20 and 35 who are not living on a pension or social security are: Salaries, wages, and tips A person's debt ratio shows the relationship between debt and net worth. The lower the ratio the better off financially the person is. A person complains about how expensive it is to be a cigarette smoker. One of the reasons cigarettes are so expensive is that Exercise Tax the difference between the budgeted amount and the actual amount that you spend budget variance A man budgeted $200 a month for clothing. This month the man spent $150 on clothing therefore that budget item is considered to have budget variance One of the benefits of holding an investment for over a year rather than selling it in less than a year is that the capital gains on the investment will be taxed at a lower rate. New coins and currency make their way into the general economy, consumers and businesses, through the distribution system of the: Federal Reserve System After five years of owning a Roth Individual Retirement Account (IRA), a person wants to buy his first home, the person can withdraw money from the Roth IRA A: tax and penalty free. An investor bought 40 shares of ABC corporation's stock at $80 a share. Two weeks later, the investor receives notice that the corporation has approved a 2-for-1 stock split. Based on this information, the investor would own at the moment of the split 80 shares of the stock and the price of each share is $40. The interest earned on United States Series EE Savings Bonds is exempt from state and local taxes. Buying a treasury bill (T-bill) is best for investors who are looking for a secure, low risk investment. A pharmacy is to drugs as the American Stock Exchange is to: Securities using dividends previously earned on the stock to buy more shares dividend reinvestment To determine the time value of depositing $100 in a savings account, a person needs to know the interest rate and the rate of inflation. Lamar believes that interest rates are going to fall in the near future ,She should invest in: A long-term, fixed rate certificate of deposit Interest earned on interest is known as: Compounded interest Which of the following is the federal law that requires the cost of credit be disclosed Truth in Lending Act