Unsecured credit - Study guides, Class notes & Summaries

What is a charge card? - ️️- Issued by a retailer allowing you to charge purchases made only with their store - store credit usually carries high rates or interest as high as 20 - 30% on unpaid balances What is prepaid card? - ️️- Offered by banks and non- banks - not linked to one's bank account - entails high fees and interest What is interest - ️️THE COST OF MONEY - paid by the borrower to obtain the used of the principal or received by the lender for providing the pri...

U1 L1- Secured Debt - correct answer A(n) ___ shows you the schedule of payments on a loan and the total interest and payments at the end of a loan - correct answer B. Amortization table Secured debts must have ____ - correct answer A. Collateral Using the table, where does the smallest change in interest rates between secured and unsecured occur? - correct answer A. At the excellent rating You are purchasing a car for $12,985.00 with the help of your parents. How much inter...

MNB1601 Questions and Answers Already Graded A ________ are unsecured loans and are not freely negotiable. The name of the lender and the credit conditions are recorded Registered-term loans ________ is an arrangement with a bank that allows a business to make payments from a cheque account in excess of the balance in the account Bank overdrafts ________ is the ability of a business to satisfy its short-term obligations as they become due. Liquidity ________ is

Champions Real Estate Finance Exam Review (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: Monetary inflation When there is an excess of money supply in the market. Q: Demand Pull Inflation Answer: created when there is more money in the market & less goods for sale. Q: cost-plus inflation Answer: when the cost of production & offering services increase thereby causing manufacturers and trades people/vendors to raise their prices ac...

FiCEP Exam Certification 2024/2025 |Complete Solution| Graded A+[Multiple Choices] Which cycle describes members who are just surviving and living paycheck to paycheck? a. Earn / spend / earn / spend b. Earn / spend / borrow / spend c. Earn / spend / save d. Earn / borrow / spend / save a. Earn / spend / earn / spend What is the primary purpose of FiCEP certification?** A. To educate individuals on financial planning for the wealthy B. To train credit union employees to provide fi...

BEC simulated exam 1 questions & answers 2024/2025 The Carters signed an agreement with an effective annual interest rate of 7.74%. Interest is payable semi annually. What was the stated rate? - ANSWERS7.60% Add 1 to the effective rate = 1.0774 Take the square root = 1.038 Subtract 1 = .038 Multiply by 2 (for semi annual) = 7.60% Ruby Exports, a U.S. company, has a significant amount and number of accounts receivable denominated in foreign currencies. Ruby wants to mitigate its exc...

Using the information provided, answer the following question: Sales price = $225,000 Seller Contribution = $6,000 Closing Costs = $5,580 Prepaids = $2,250 What is the cash-to-close? - $9,705 A refinance transaction resulting from a divorce settlement where either the borrower or the coborrower is required to "buy-out" the other party's interest in the mortgage property, is considered a rate and term refinance as long as the borrower who acquires sole ownership receives no cash out of ...

UCSD Pecore MGT 12 Final Exam Questions & Answers 2024/2025 APR - ANSWERSAnnual percentage rate or percentage cost of credit, standardized for comparison Truth in Lending Law - ANSWERSfed law, creditors have to disclose APR and finance charge as dollar amount finance charge - ANSWERScost of credit in total dollar amount (includes cost, service charge, credit related insurance premiums or appraisal fees) cost of credit- average daily balance - ANSWERSE(balance x day)/days total b...

ICARE BATCH 6 JOSHUA 1st Preboard AFAR/60 Questions and Answers 100% Correct; STI College(multiple campuses) ICARE BATCH 6 JOSHUA 1st Preboard AFAR/60 Questions and Answers 100% Correct; STI College(multiple campuses) 1. Partner A and B share profits and losses equally after each has been credited in all circumstances with annual salary allowances of P750,000 and P600,000, respectively. Under this arrangement, in which of the following circumstances will A benefit by P150,000 more than B...

Credit Questions with complete solution 2024/2025 Credit- Wise When a person declares bankruptcy that fact will appear on the person?s credit report A: for a 3 year period. B: for a 10 year period. C: until the person repays all debts owed. D: until the person is able to receive a new credit card. - correct answer B: for a 10 year period. Which of the following is considered to be open-end credit? A: A mortgage. B: A car loan. C: Department store charge cards. D: I...