Question 1

In a loan repayment schedule,the term amortized refers to

Accepted Answer

A)  the method by which interest is calculated. 
B)  the repayment of the principal and interest through a series of equal payments. 
C)  the life of the loan. 
D)  assets used to back the loan. 
A)  the method by which interest is calculated. 
B)  the repayment of the principal and interest through a series of equal payments. 
C)  the life of the loan. 
D)  assets used to back the loan.

Question 2

Financial institutions provide home equity loans up to a maximum of 70% of the value of the equity in a home.

Accepted Answer

A) True 
 B)False

Question 3

All of the following provide personal loans except

Accepted Answer

A)  commercial banks. 
B)  insurance companies. 
C)  finance companies. 
D)  credit unions. 
A)  commercial banks. 
B)  insurance companies. 
C)  finance companies. 
D)  credit unions.

Question 4

Buying a new car online is just about as efficient as buying an airline ticket or a book.

Accepted Answer

A) True 
 B)False

Question 5

You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%,or 1% a month.If the first payment is $300,how much is the principal portion of the payment?

Accepted Answer

A)  $27 
B)  $270 
C)  $280 
D)  $295 
A)  $27 
B)  $270 
C)  $280 
D)  $295

Question 6

When assessing the condition of a used car,you should carefully consider all of the following except

Accepted Answer

A)  the condition of the interior. 
B)  the insurance premium the previous owner paid. 
C)  the condition of the exterior. 
D)  the history of routine maintenance. 
A)  the condition of the interior. 
B)  the insurance premium the previous owner paid. 
C)  the condition of the exterior. 
D)  the history of routine maintenance.

In a loan repayment schedule,the term amortized refers to

Financial institutions provide home equity loans up to a maximum of 70% of the value of the equity in a home.

All of the following provide personal loans except

Buying a new car online is just about as efficient as buying an airline ticket or a book.

You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%,or 1% a month.If the first payment is $300,how much is the principal portion of the payment?

When assessing the condition of a used car,you should carefully consider all of the following except

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Assessing and Securing Your Credit

Managing Your Credit

Purchasing and Financing a Home

Auto and Homeowners Insurance

Health and Disability Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

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Exam 9: Personal Loans

In a loan repayment schedule,the term amortized refers to

Financial institutions provide home equity loans up to a maximum of 70% of the value of the equity in a home.

All of the following provide personal loans except

Buying a new car online is just about as efficient as buying an airline ticket or a book.

You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%,or 1% a month.If the first payment is $300,how much is the principal portion of the payment?

When assessing the condition of a used car,you should carefully consider all of the following except

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Assessing and Securing Your Credit

Managing Your Credit

Purchasing and Financing a Home

Auto and Homeowners Insurance

Health and Disability Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

Filters