Thank you for registering for an NGPF Teacher Account! Based on the commonly acceptable ratio for potential borrowers, can Jon safety take on the responsibility of additional credit. lex__willPLUS. Saving and Loan Association specialize in saving accounts and mortgage loan services. Skip's lender looks at the following documents: credit score, credit report, and credit application to see if he has used credit responsibly in the past. He desires a low risk plan that earns a higher interest rate than a normal savings account. What type of loan may Harvey obtain based on the information provided? Jon pays a monthly car payment of $460.00 and typically owes $300.00 to credit card companies for the purchases that he makes throughout the month. Muscular strength—helps maintain strength, making muscles stronger and enabling a person to do the necessary activities. McDermott Incorporated recently invented a new style of car safety seat designed to minimize injuries to small children in the event of accident. Alex Rodriguez sets a financial goal to save $250.00 within eight months to purchase a new Rawlings baseball glove. What economic term refers to the point at which the amount of goods being supplied equals the amount of goods being demanded? Which of the following creditors does NOT typically offer an open-end credit arrangement? He notices that his hotel is next to a post office. ____ 2. Which of the following payment methods would best solve Tom's dilemma? Jim Young has worked as Vice President of Gladiator Heating & Cooling for a period of four years. Carmine Falcone recently attempted to obtain a loan from National Finance Company for the purchase of a boat. However, Peter owes his other friend, Ray Stantz, $50 for a loan that Ray made to him last month. Recently, Harvey decided that he would like to borrow a substantial amount of money to install a luxurious in-ground pool behind his home. What term best describes these entities in relation to their lending function? STUDY. Which of the following is NOT an example of a short-term need? Fortunately, Alfred was able to remain employed. Although he has a job that produces income, his net worth has been reduced to almost zero. Growth in the value of the stock price and earning dividends paid by the company to its shareholders. In addition, they had conducted a research study on the effec- Is this a legitimate reason for a creditor to reject a borrower? Most credit card companies choose to conduct business in states such as South Dakota that do not have laws which limit the interest rate that credit card companies may charge individuals. However, his job as a technology consultant requires him to travel out of town regularly. A 12. 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OTHER QUIZLET SETS. You deposit $2,000 annually in a savings account earning 7% annual interest. Investments that offer the possibility of high returns usually include low levels of risk. Upon visiting his bank and discussing his options with a financial representative, Martin decides on a plan. Which of the following options best represents an example of Dan undertaking a new course of action? Explain. If a person misses a payment on a loan, that missed payment will affect a person's credit score for exactly three years. Marlin Corporation earned $68,000 in profit during the last fiscal year. Calculate Jon's Debt to Payment to Income Ratio. Which of the following is NOT considered a deposit-type financial institution? [ Chapter 9 / Money in Review Flashcards | Quizlet. What type of financial risk may he face based on his decision to wait? Find Test Answers Search for test and quiz questions and answers. Which of the following things will not increase your credit score? The average cardholder has 4 credit cards. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Give his near perfect credit history, Carmine was stunned when he was informed that his application has been rejected. 30 terms. financial goals: Richie Branson is beginning the process of creating his personal financial plan. David Drew invested $5,000 in the common stock of a domestic oil company two months ago. 35 terms. Which of the following is NOT an example of an asset? M 4 D - Risk avoidance Managing the IS Project. Test. Based on the scenario provided, Henri would most likely be denied credit from a lender based on which of the following factors? Which of the following investments options offers the lowest risk as a source of investment income due to its predictable nature? His expenses for the month total $2,150. An eighth grade student decides to attend CBC for his high school education. It offers lower rates and reduced fees as compared to most banks. Alex's goal represents a(n)_______________ financial goal. Saving, Investing, Credit, and Insurance: Chapters 10 and 3, 4, and 6 in NEFE Book. Name the three factors that creates significant global investment risk for those who choose to invest in foreign companies? Life Insurance is what type of financial service? Salvatore Maroni has lived in four different cities in the past two years and was recently arrested for mail fraud. Although the company continues to increase its profits each quarter, its stock price has declined due to an overall negative trend in the stock market. Dan currently deposits $500 per month in a saving account as part of his plan to achieve his financial goal of accumulating $50,000 in five years. The Federal Reserve serves as the central banking system of the United States. Roger also owns a condominium on Lake Tahoe valued at $310,000. What electronic banking service should Paul use? What banking service could Jimmy use to pay his bills on time and avoid any negative effects on his credit rating? Created by. Bill bought shares of stock for $45 per share and then sold them the next month for $50 per share. When writing a check from a joint checking account, both owners of the account must sign the check. ____________ is the price paid for the use of the money of others. What type of savings plan has Martin decided to use? The Phelps family intends to borrow $75,000 from a bank in approximately one year for the construction of an elaborate in-ground swimming pool. Additionally, Jon pays a house payment of $1,900 each month to Wayne Mortgage Company. You deposit $13,500 in a saving account earning 9% annual interest. March 24, 2019. D 2. Otherwise, he may risk having to keep the money in the plan another three years or face a financial penalty. The home in which Henry Ducard lived was recently destroyed by a hurricane. During each month, Jimmy Holiday pays a variety of fixed expenses. The Skip Video Cheat C 11. When the value of money goes down. Automatic Payments is what type of financial service? Real Estate Finance 30 Final Exam & Answer Key 1) For all practical purposes, an “Alienation Clause” is basically the same as a: a) Call Clause b) Acceleration Clause c) Due on Sale Clause d) Defeasance Clause Answer is “c”: A Due on Sale Clause - This means the loan is not assumable without lender's The law of Supply states that the higher the price of the good, the more producers will supply of that good. Which of the following institutions is NOT an example of a typical source of consumer credit? What term best describes the $68,000 in earnings distributed by the company? The seller will not accept a personal check, and Tom refuses to setup a PayPal account. Name the four averages" or exchanges that allow you to find how the stock market is doing. How much interest will you earn in year three based on the effects of compounding? What two other pieces of financial information must he determine prior to developing any financial goals? A Ford Mustang represents an example of a need. Which of the following is an advantage of using credit? exam 2. Del Griffith earns a bonus at his job and receives a check in the amount $4,000. Sign up for free today and boost your AP, SAT and high school exam scores! James Gordon pays with cash for all goods and services that he purchases. Peter decides that he will simply give the $50 check from Egon to Ray to satisfy his debt. Tom Mullen purchased a new golf club on EBay for $100.00. Learn vocabulary, terms, and more with flashcards, games, and other study tools. However, Michael actually earned $2,200 from his investment. The amount of money necessary to deposit now in order to attain a desired amount in the future. What banking service could Gabe have utilized to avoid this situation? What is the trade-off that may cause the borrower to choose to pay the higher total amount? Applying for multiple credit cards in one week. As a result of the devastation, Henri owns few assets. Multiple Choice 1. Roger Dorn built a new home four years ago for the price of $405,000. PEFOUND Practice Exam Answer Key I. What will be the value of the account in year nine? Martin Riggs wants to deposit $30,000 into a savings plan. Gabe Shear receives a paycheck every Friday in the amount of $1,850.00. answer choices . Judge Elihu Smails wants to purchase a new yacht. Short Answer Essay 1. However, he decides to wait until next year in the hopes that the price of yachts will decrease. Current liabilities are debts that have to be paid within _____________. The interest rate for the plan varies from month to month. They decide to offer $1,000,000 new shares of common stock at the current rate of $5.00 per share. Which of the following is NOT an example of a long-term liability? 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