Payday loans - Study guides, Class notes & Summaries

Chapter 03 Financial Services: Finance Companies     
True / False Questions
  1. Finance companies differ from banks in that they do not accept deposits. 
TRUE   2. Finance companies have been among the slowest growing FI groups in recent years. 
FALSE   3. General Electric Capital Corporation (GECC) provides services to more than 15 million businesses and consumer is Asia alone. 
TRUE   4. In 2008, GE Capital Corporation accounted for approximately 50 percent...

BTEC Business Finance Level 3 Unit 3 Exam Questions & Answers 2024/2025 what are the 6 types of personal borrowing? - ANSWERSmortgages, hire purchase, payday loans, overdraft, personal loans, credit cards personal loan - ANSWERSgives you the ability to borrow a set amount of money, normally for a specific purpose, to be repaid in regular instalments. payday loan - ANSWERSshort term source of finance used to bridge the gaps between now and next receiving a wage credit card - ANSWER...

FIN101 Final Exam Ball State University - Olga McAtee (Ch. 6-10); Questions and Answers 100% Correct High Cost Consumer Loans Correct answer-a loan with above average fees Main Stream Financial System Correct answer-banks, credit unions, credit card issuers, etc. Alternative Financial System Correct answer-payday loans, pawn shops, check cashers, etc. Installment Loan Correct answer-a loan repaid with interest in equal periodic payments Revolving Credit/Loan Correct answer-specified...

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...

HUD Certification Questions and Answers 100% Pass Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? Pay stub Retirement plan statement List of assets Current lease Pay stub A client would like purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for a loan. Which is the best solution for the client to reach this goal? Find a second job Bo...

what are the 6 types of personal borrowing? - Answer mortgages, hire purchase, payday loans, overdraft, personal loans, credit cards personal loan - Answer gives you the ability to borrow a set amount of money, normally for a specific purpose, to be repaid in regular instalments. payday loan - Answer short term source of finance used to bridge the gaps between now and next receiving a wage credit card - Answer goods are paid for by card and can be paid for either at the end ...

1. When using a debit card what should you immediately do upon use? Ans: Record it in your checkbook register 2. Why buy renter's insurance? Ans: 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? Ans: The car is collateral for the loan 4. Why do corporations issue bonds? Ans: To borrow money from investors 5. Why are payday loans the worst choice? Ans: These loans often result in a pattern of needing to continue bor...

It is usually a good idea to borrow for - Answer Something that increases in value over time A person generally pays a lower interest rate on a car loan then on a personal loan because the - Answer Car is collateral for the loan Who is most likely to use the service of a non-Bank consumer finance company - Answer Individuals who cannot get a loan from a bank or credit union Which financial advisor is recommending a long-term investment that lowers investment risk - Answer Ad...

Sources of personal loans include - Answer-commercial banks, savings institutions, finance companies, and credit unions. Loan agreements with family and friends should - Answer-be in writing and signed by all parties. The personal loan process involves - Answer-submitting the application, negotiating the loan contract, and negotiating the interest rate. In the loan application process, the information the borrowers must supply to the lenders is - Answer-a personal balance sheet and a pe...

Wise Test Questions & Answers 2024 It is usually a good idea to borrow for - ANSWER-Something that increases in value over time A person generally pays a lower interest rate on a car loan then on a personal loan because the - ANSWER-Car is collateral for the loan Who is most likely to use the service of a non-Bank consumer finance company - ANSWER-Individuals who cannot get a loan from a bank or credit union Which financial advisor is recommending a long-term investment that lowers...