The convenience of using a financial institution with 24 hour banking requires |
a trade-off of personal service. |
The purpose of a debit card is |
to transfer money electronically. |
Time deposists consists of |
savings accounts. |
The funds deposited into a checking account can be restricted for use by a |
holding period. |
Another name for closed-end credit is |
installment credit. |
Another name for open-end credit is |
revolving credit. |
Revolving credit is a prearranged loand for a specified amount you can use by |
writing a special check. |
In determining your credit capacity you 1st |
provide for basic necesitites (such as morgage or rent). |
Most information in your credit file may be reported only for |
7 years. |
If you have a problem with your creditior, the best solution is to |
solve your problem with the creditor. |
Parents or family members are a source of |
the least expensive loan. |
If you are denied credit by a bank or credit union you should |
question your ability to afford the loan. |
Most commonly purchased type of credit insurance is |
credit life insurance. |
Federal Trade Commission enforces the |
fair debt collections practices act. |
If you recieve a phone call from a debt collector they must |
send you a written notice with in 5 days. |
Excesive in debtedness can result in |
heavy drinking, neglect of children, marital problems, and drug abuse. |
Most reliable source of product information is likely to come from |
a food source ingredient label. |
Items produced for retail stores are commonly sold |
under a store brand. |
Express waranty is a specific agreement created by |
the seller or manufactuor. |
Purpose of a service contract is to |
protect a product owner from expensive repairs. |
Arbitration differs from madiation in that |
arbitration is legally binding. |
If you desire some assurance of quality when buying a used car the best warrenty is usually offered from |
a new car dealer. |
Most cars bought from private parties have no |
express waranty. |
Sticker price on a car refers to the |
suggested retail price of a new car. |
Storage of funds for future use is a purpose of |
savings services. |
Checking accounts are frequently referred to as |
demand deposits. |
To avoid high fees for loans |
a person should not borrow from a pawn shop. |
In the bank reconsiliation process, service fees should be |
subtracted from the checkbook balance. |
Morgage companys main purpose is |
providing lonad to purchase homes. |
A good example of a closed-end credit is |
a morgage loan. |
Line of credit is the |
maximum amount of credit you are alllowed by a creditor. |
Debit card debits your account |
at the moment you buy goods/services. |
If you co-sign for a loan you’ll have to pay up to the full amount of the debt if |
the borrower doesnt pay. |
Marital status is included in your |
credit report. |
If your credit application is denied you are entitled |
to know the specific reason. |
Best way to obtain credit rating is to |
reppay your debts on time. |
Most expensive loans are availabe from |
finance companies. |
Toal $ amount you pay to use credit is called the |
finance charge. |
Rule of 78 is used by creditios to determine |
how much interest you have payed at any point in the loan. |
If you have trouble paying your bills |
try to solve the problem with your creditor. |
Borrowing $ to pay old debt is one of the |
16 danger signals of potential debt problems. |
Impulse buying refers to |
unplanned spending. |
Open-dating provides |
information on freshness. |
Purpose of small claims court is to |
resolve minor consumer complaints. |
Am implied warranty that comes with a used car is that |
the vehicle must be in operation condition. |