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EUNICEWise test Review all topics WITH 100% SURE ANSWERS
Terms in this set (160)
Collateral security given for loan, assets to secure the debt
Capacity your ability to repay the debt. Do you have sufficient $money to repay a loan
Capital "net worth". wealth in the form of money or property owned by a person
Character good reputation, Integrity
Credit history a summary of a person's borrowing and repayment history
In the event that your credit card is stolen in the United States, federal law limits the
50 dollars liability of card holders to ____regardless of the amount charged on the card by the
unauthorized user.
if just the credit card account number itself is stolen, federal law guarantees that the
zero liability "Owes nothing"
card holder has a _______ to the issuer.
electronic funds transfer; exchange of money by sending bank records via a
EFT
computer network
FDIC the federal government protects your money up to $250,000 in a single account
Department store charge cards. Which of the following is considered to be open-end credit?
A person has three credit cards with very large outstanding balances and is unable
Notify the credit card companies
to make payments on any of them. Which action should the person take
When a person declares bankruptcy that fact will appear on the person?s credit
10 years
report
A personal loan without assets to cover What is meant by an uncollateralized loan?
the loan amount
When a person brings an item to a pawnshop to obtain cash, the transaction is
a collateralized loan
considered
Which of the following does the Federal Reserve use to regulate the nation's money
Monetary policy
supply?
The primary sources of income for most people between the ages of 20 and 35 who
Salaries, wages, and tips
are not living on a pension or social security are:
1/4
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