| 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. |