Payday loans - Study guides, Class notes & Summaries

FCS 340 Exam Questions with Correct Answers If you lose your debit card and notify your financial institution within two days, how much are you potentially liable for? - ANSWER $50 When you select a financial services provider, what are major factors to consider? - ANSWER -Borrow money if needed. -Min. cost of checking & payment services -Bet return on savings What type of financial services do to the following provide? a. A credit card company- b. An investment company- c. A lif...

Sources of income - wages, rentals, interest, capital, profits, investments, entrepreneurship Exemption (aka an allowance)) and how does it work - allowance is used to reduce amount of taxed income Liquidity—what does it mean; what products are liquid - the degree of ease in which assets can be sold Gift cards and how they work (a monthly inactivity fee may begin after 12 months) - closed loop system and open loop system Discretionary income or budget surplus - not a...

UGBA 135 Final Exam Questions and Answers 2023 Complete What is "good debt"? Taking out loans in order to pay off a car, a mortgage or an education or starting a business What is considered "bad debt"? - Borrowing money to support a lifestyle of living beyond one's means What is the definition of a Modern Day Millionaire? - Financially independent, no government assistance, living the life they want to lead What is a credit card? - An unsecured line of credit - based on good fait...

Banking Wise Practice Test Exam Questions with 100% Correct Answers 2024 If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the US Treasury Department- In order to track large deposits, the federal government requires that deposits of $10,000 or more be reported to the Treasury Department. Some concerns may be that a person might be trying to avoid paying taxes on game winnings or perhaps illegal gains The National Credit Union Administration (NCUA) i...

If you lose your debit card and notify your financial institution within two days, how much are you potentially liable for? - Anywhere between $50 to $500 When you select a financial services provider, what are major factors to consider? - Convenience; Service; Interest rates (borrowing); Fees What type of financial services does a credit card company provide - Short-term lending What type of financial services does a investment company provide - Mutual funds, money market funds What type...

Wise Test Review Exam Questions With Verified And Updated Solutions. 1. When using a debit card what should you immediately do upon use? - answerRecord it in your checkbook register 2. Why buy renter's insurance? - answerTo protect your belongings in case of fire or theft 3. Why do you pay a lower rate on a car loan verses a personal loan? - answerThe car is collateral for the loan 4. Why do corporations issue bonds? - answerTo borrow money from investors 5. Why are payday loans the wor...

What is money? - Medium of exchange What are some examples of mediums of exchange? - Money What is the US currency currently backed by? - Full faith and trust in the US government What is the role of the US Department of Treasury? - They print dollar bills and mint coins What are some methods for receiving or paying for goods OTHER than cash? - Credit card and electronic transfers Provide examples of sources of income (how you make money) - Earned, business, interest, and dividend...

FCS-340 Exam 2 Questions with Correct Answers If you lose your debit card and notify your financial institution within two days, how much are you potentially liable for? - ANSWER Anywhere between $50 to $500 When you select a financial services provider, what are major factors to consider? - ANSWER Convenience; Service; Interest rates (borrowing); Fees What type of financial services does a credit card company provide - ANSWER Short-term lending What type of financial services does a i...

Solutions| A+ Liquidity - The ability to convert an asset to cash quickly Products that are liquid - Stocks and Money Market accounts Gift Cards - a card that is given as a gift with a specified amount of money. There is a monthly inactivity fee that may begin after 12 months. Discretionary income - The amount of an individuals income that is left for spending investing or saving after taxes and personal necessities. Money orders - a certificate that allows the stated...

assets - money and other valuables belonging to an individual or business, e.g a car, a house, stocks/retirement, antiques, collectibles stuff that you OWN opportunity cost - Cost of the next best alternative use of money, time, or resources when one choice is made rather than another Sources of Income - wages, rentals (real estate), interest, capital, profits, investments, entrepreneurship Exemption (aka an allowance) and how does it work - allowance is used to reduce amoun...