,vstusta EcoNoMICS Exam 3 Continued Lillian wants to make sure Randall has just
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,vstusta EcoNoMICS Exam 3 Continued Lillian wants to make sure Randall has just agreed to buy Lillian's car. around a debit car (B) traveler's check (C) personal check (D) cashier's cheek If you do not have a checking account and need to send a paymer a debit card al) cash (C) the best thing to use is (A (D) a wire transfer. design s2000 to buy a new computer to use in ber graphic business. Her loan is an exam (B) cash (C) neither A nor B D) both A and B the 3 C's- When deciding whether they should extend credit, lenders consider for repaying debts on time (B) a person's earning power and ability to pay debts Capacity or assets (D) a these. Which of the following questions would NOT a credit application? (A) Where do What your monthly housing costs? (C) your ethnic heritage? (D who can provide information regarding character? your called a A record of a consumer's transactions and payment pattems is report. (A) credit bureau (B) credit score (C credit credit 37. Which type of credit card allows charitable or non-profit organizations to receive a of annual fees collected? affinity card (B) a status card (C) a co-branded card (D) a smart card f to charge a $500 purchase on a credit card and will only be able to you need is paid off, which credit card finance make S50 payments per month until it previous balance method computation method would cost you the least? (A) method balance method average daily balance average daily balance method Which of the following is also known as a advance" (A a payday loan insurance loan (C) a private loan (D) a consolidation loan Which type of credit would be more likely to have an add-on clause? (A) an educational loan (B) health club membership account (C furniture store account (D) an auto loan The right of rescission refers to (A) the right of a merchant to demand payment in full (B) the right to skip a payment one month a year (C) the right to cancel a within three days of signing it (D) the right to return your purchase within 7 business days. (Over)Explanation / Answer
31. Personal check
In personal cheque is a printed form where a payee can write an amount of money on and sign in order to make payment from own bank account.
32. wire transfer
It is a process of electronic transfer of funds from one person to another.
33. cash credit
A bank provides this type of money only after security for repayment has been given
34. a person’s ability to pay debt
Capacity is the person’s ability to pay who borrow money
35. c what is your ethnic heritage.
Especially a group (ethnic group) sharing a common and distinctive culture, religion, language, or the like. Referring to the origin, classification, characteristics, etc., of such groups.
36.credit report
A credit report is a summary of your financial history
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