What is a payday loan - Study guides, Class notes & Summaries

Wise Practice Test Exam Questions With 100% Correct Answers 2024/2025 If a fire happens to someone's house that they own, what type of insurance will pay for the damage most likely? Homeowners insurance If a corporation was sued and lost a major lawsuit, what will happen to the price of their stock? Price of stock will decrease Why is a stock characterized as a "growth" stock? The corporation is expected to increase significantly in revenues and earnings. An example of a lo...

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 Questions with complete solution 2024/2025 Wise Test Review 1. When using a debit card what should you immediately do upon use? - correct answer Record it in your checkbook register 2. Why buy renter's insurance? - correct answer To 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? - correct answer The car is collateral for the loan 4. Why do corporations issue bonds? - correct answer To bo...

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...

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...

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...

2024/2025 FiCEP Exam - Questions with 100% Correct Answers 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 Financial counselors who don't use what they know about hemispheric thinking, may fall into the trap of: a. Assuming the member will succeed if they work with the counsellor b. Asking too many questions c. Telling the member what the...

FIN 201 EXAM THREE WITH CORRECT ANSWERS | GRADED A+ | 2024 An ATM with a service fee of $4 is used by a person 100 times in a year. What would be the future value in 5 years (at a 5% rate) of the annual amount paid in ATM fees? ANS, Annual Fee: $4 x 100 = $400 FV = Annual fee x FV factor $400 x 5.526 = $2,210.40 A payday loan company charges 2% interest for a 4 week period. What would be the annual interest rate for that company? ANS, .020 x (52/4) = .260 or 26% What would be th...

sources of income - wages, rentals, interest, capital, profits, investments, entrepreneurship exemption (aka allowance) and how does it work - allowance is used to reduce amount of taxed income. personal exemptions are given for people with dependents or spouses. company exemptions are given for non-profits, religious organizations, and government corporations. liquidity—what does it mean? what products are liquid? - liquidity is the degree in which assets can be sold. cash on h...