Fin 312 Midterm 2

subject Type Homework Help
subject Pages 5
subject Words 775
subject Authors Jack Kapoor, Les Dlabay, Robert J. Hughes

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1)
An escrow account is designed to reduce the cost of a mortgage.
2)
A list of grades received in school is commonly included on a resume.
3)
Financial planning has specific techniques that will be effective for every individual and
household.
4)
In most states, third-party debt collectors are permitted to call you during days, nights,
weekends, and holidays until the debts you owe are repaid.
5)
Near-field communications (NFC) allows consumers to make purchases by waving
their smartphones in front of a sensor when paying.
6)
An implied warranty is usually in written form.
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7)
Earnings per share is a corporation's after-tax earnings divided by the number of
stockholders.
8)
Which one of the following bonds would likely have the lowest risk?
A.Treasury bill
B.Municipal bond
C.Corporate bond
D.Government agency bond
E.Junk bond
9)
The Federal Trade Commission receives an average of how many complaints about the
credit bureaus every year?
A.5,000
B.8,000
C.12,000
D.18,000
E.22,000
10)
A Whirlpool dishwasher is an example of a:
A.national brand.
B.store brand.
C.generic brand.
D.local brand.
E.regional brand.
11)
According to a survey by Salary.com, the equivalent salary of a stay-at-home mom is
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approximately how much?
A.$54,000
B.$76,000
C.$97,000
D.$113,000
E.$120,000
12)
Approximately what percent of people who rent have purchased renter's insurance?
A.10
B.20
C.40
D.60
E.75
13)
When a stock splits two-for-one, you should expect the price per share to:
A.decrease to half its pre-split price.
B.decrease in value by 75 percent or more.
C.remain unchanged.
D.increase to more than twice its pre-split price.
14)
Credit bureaus obtain data from which of the following?
A.banks.
B.finance companies.
C.merchants.
D.credit card companies.
E.All of these
15)
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Which of the following is not true about the Credit CARD Act of 2009?
A.States that teaser rates must be in effect for at least 6 months
B.Makes new disclosure statements clear and more timely
C.Requires card issuers to post their standard card agreements on the Internet
D.Allows card issuers to apply new (higher) interest rates to the existing card balances
E.Requires issuers to mail monthly statements at least 21 days before payment is due
16)
What is the term used to refer to the rate financial institutions are charged to borrow
funds from Federal Reserve Banks?
A.Prime rate
B.Discount rate
C.Corporate bond rate
D.Treasury bond rate
E.T-bill rate
17)
A type of employee benefits program that allows workers to base their job benefits on a
credit system and personal needs is called:
A.cafeteria-style.
B.mandatory.
C.flexible.
D.voluntary.
E.bundled.
18)
What are the 3 steps to effective networking?
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19) B.
20)
Explain what dollar cost averaging is and why an investor would use the technique.
21)
Explain negative amortization and how such a situation can occur.
22) D.

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