Question 1

If you declare bankruptcy, you have to continue to pay any alimony, child support, debts incurred through fraud and court costs.

Accepted Answer

A) True 
 B)False

Question 2

What is the EAR for a $100 loan when the interest is compounded monthly and the stated annual interest rate is 6.00 percent?

Accepted Answer

A)  6.00 percent 
B)  6.39 percent 
C)  6.17 percent 
D)  7.52 percent 
E)  8.21 percent 
A)  6.00 percent 
B)  6.39 percent 
C)  6.17 percent 
D)  7.52 percent 
E)  8.21 percent

Question 3

By current Canadian law, a lender in Canada can legally charge up to _________ per annum

Accepted Answer

A)  10% 
B)  22% 
C)  28% 
D)  60% 
E)  there is no limit 
A)  10% 
B)  22% 
C)  28% 
D)  60% 
E)  there is no limit

Question 4

Paying only the minimum balance each month on credit card bills is a signal of potential debt problems.

Accepted Answer

A) True 
 B)False

Question 5

In financial institutions, the sources of credit:

Accepted Answer

A)  come in all shapes and sizes. 
B)  play an important role in our economy. 
C)  are typically short term 
D)  A and B are correct 
E)  A, B and C are correct 
A)  come in all shapes and sizes. 
B)  play an important role in our economy. 
C)  are typically short term 
D)  A and B are correct 
E)  A, B and C are correct

Question 6

Which of the following offer the least expensive loan?

Accepted Answer

A)  finance companies 
B)  banks 
C)  savings and loan associations 
D)  parents or family members 
E)  loan sharks 
A)  finance companies 
B)  banks 
C)  savings and loan associations 
D)  parents or family members 
E)  loan sharks

Question 7

Government of Canada student loans

Accepted Answer

A)  are available to all full-time and part-time post-secondary students regardless of financial need 
B)  are offered only in Ontario and Quebec 
C)  are not required to be repaid 
D)  are the same as student grants 
E)  program is called the Canada Student Loans Program 
A)  are available to all full-time and part-time post-secondary students regardless of financial need 
B)  are offered only in Ontario and Quebec 
C)  are not required to be repaid 
D)  are the same as student grants 
E)  program is called the Canada Student Loans Program

Question 8

What are the major sources of consumer credit?

Accepted Answer

The major sources of consumer credit are

Question 9

The interest rate on a collateralized loan is relatively low, but one of the disadvantages of such loans is that

Accepted Answer

A)  the loan must be repaid in a short period of time. 
B)  the assets used as collateral are tied up until the loan has been repaid. 
C)  the loan is difficult to obtain. 
D)  commercial banks do not make such loans. 
E)  you ruin your credit rating. 
A)  the loan must be repaid in a short period of time. 
B)  the assets used as collateral are tied up until the loan has been repaid. 
C)  the loan is difficult to obtain. 
D)  commercial banks do not make such loans. 
E)  you ruin your credit rating.

Question 10

According to the current Canada Student Grants Program, the Government of Canada will provide up to a maximum of _______ in loans per week of study to eligible students

Accepted Answer

A)  $100 
B)  $210. 
C)  $400. 
D)  $600 
E)  $1,000. 
A)  $100 
B)  $210. 
C)  $400. 
D)  $600 
E)  $1,000.

If you declare bankruptcy, you have to continue to pay any alimony, child support, debts incurred through fraud and court costs.

What is the EAR for a $100 loan when the interest is compounded monthly and the stated annual interest rate is 6.00 percent?

By current Canadian law, a lender in Canada can legally charge up to _________ per annum

Paying only the minimum balance each month on credit card bills is a signal of potential debt problems.

In financial institutions, the sources of credit:

Which of the following offer the least expensive loan?

Government of Canada student loans

What are the major sources of consumer credit?

The interest rate on a collateralized loan is relatively low, but one of the disadvantages of such loans is that

According to the current Canada Student Grants Program, the Government of Canada will provide up to a maximum of _______ in loans per week of study to eligible students

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

The Banking Services of Financial Institutions

Introduction to Consumer Credit

The Finances of Housing

Home and Automobile Insurance

Life, Health, and Disability Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Retirement Planning

Estate Planning

Filters

Exam 6: Choosing a Source Credit: the Costs of Credit Alternatives

If you declare bankruptcy, you have to continue to pay any alimony, child support, debts incurred through fraud and court costs.

What is the EAR for a $100 loan when the interest is compounded monthly and the stated annual interest rate is 6.00 percent?

By current Canadian law, a lender in Canada can legally charge up to _________ per annum

Paying only the minimum balance each month on credit card bills is a signal of potential debt problems.

In financial institutions, the sources of credit:

Which of the following offer the least expensive loan?

Government of Canada student loans

What are the major sources of consumer credit?

The interest rate on a collateralized loan is relatively low, but one of the disadvantages of such loans is that

According to the current Canada Student Grants Program, the Government of Canada will provide up to a maximum of _______ in loans per week of study to eligible students

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

The Banking Services of Financial Institutions

Introduction to Consumer Credit

The Finances of Housing

Home and Automobile Insurance

Life, Health, and Disability Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Retirement Planning

Estate Planning

Filters