How do credit companies or banks earn a profit when they loan money?
Question 10 options:
by selling stock
by taxing accounts
by charging interest
by loaning to everyone
Question 11 (5 points)
Question 11 Unsaved
Other than fees, what is a drawback (negative) to having credit?
Question 11 options:
uncertain earning potential
you tend to purchase more things
people cannot get credit
Question 12 (5 points)
Question 12 Unsaved
The fee that is charged for using credit is commonly referred to as ___.
Question 12 options:
assets
collateral
interest
penalties
Question 13 (5 points)
Question 13 Unsaved
Common forms of _____ used by consumers are car loans, home mortgage loans, and credit cards.
Question 13 options:
bank accounts
savings accounts
investments
credit
Question 14 (5 points)
Question 14 Unsaved
Income includes salaries, wages, interest, and dividends.
Question 14 options:
True
False
Question 15 (5 points)
Question 15 Unsaved
The process of projecting, organizing, monitoring, and controlling future income and expenses is known as
Question 15 options:
government
personal finance
geography
Question 16 (5 points)
Question 16 Unsaved
What medium of exchange is used to buy goods and services?
Question 16 options:
credit
investing
saving
money
Question 17 (5 points)
Question 17 Unsaved
What is not an example of money?
Question 17 options:
currency
credit
debit cards
checks
Question 18 (5 points)
Question 18 Unsaved
Buy something now and pay for it later. This is known as
Question 18 options:
credit
debit
spending
investing
Question 19 (5 points)
Question 19 Unsaved
The amount of money that you owe to lenders is called what?
Question 19 options:
bankruptcy
debt
credit
interest
Question 20 (5 points)
Question 20 Unsaved
Haley bought a $500 dress using her credit card. By the time she finished paying back the credit card company, Haley paid $575 for the dress. The extra $75 was what?
Question 20 options:
interest
expenditure
credit
debt