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5 Written questions

5 Matching questions

  1. Mortgage
  2. Debt
  3. Collection Agency
  4. Pawnshop
  5. Rule of 72
  1. a Something owed, usually measured in dollars.
  2. b A long-term loan to buy real estate, that is, land and the structures on it.
  3. c A business that specializes in obtaining payments from debtors who have defaulted on their loans.
  4. d A rough calculation of the time or interest rate needed to double the value of an investment. Example: To figure how many years it will take to double a lump sum invested at an annual rate of 8%, divide 72 by 8, for a result of 9 years.)
  5. e An easy-access credit business that makes high-interest loans secured by personal property collateral, such as jewelry.

5 Multiple choice questions

  1. An easy-access credit business that makes high interest loans for the period of the borrower's pay cycle. This practice is illegal in some states.
  2. Money that a government provides to citizens for reasons other than current employment or the delivery of goods or services in exchange. Examples include Social Security, veteran's benefits, and welfare.
  3. The influence that a social group has on an individual, based on the individual's desire for the group's approval.
  4. A program, financed by state and federal government tax revenues, to pay specified health care costs care for those who cannot afford them.
  5. A method of investing a fixed amount in the same type of investment at regular intervals, regardless of price.

5 True/False questions

  1. SavingCompensation for work, expressed as an annual sum and paid in prorated portions regularly— usually weekly, bi-weekly, or monthly. (See Wage.)

          

  2. Credit CardA plastic card that authorizes the delivery of goods and services in exchange for future payment with interest, according to a specific schedule.

          

  3. FraudIntentional and illegal deception, misrepresentation, or concealment of information for monetary gain.

          

  4. Savings AccountA financial institution deposit account that pays interest and allows withdrawals.

          

  5. Easy Access CreditShort-term loans granted regardless of credit history, often for very short periods and at high interest rates. (See Pawnshops, Payday loans, Rent-to-own, and Title loans.)