Semester 1 Exam

Front

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the:

Back

U.S. Treasury Department

Front

When a person brings an item to a pawnshop to obtain cash, the transaction is considered:

Back

A collateralized loan

Front

A person has three credit cards with very large outstanding balances and is unable to make payments on any of them. Which action should the person take? Options: Notify the credit report agency on order to avoid a late fee, Notify the credit card companies in order to negotiate a new payment plan, File for bankruptcy on order to maintain ones current credit score, Contact the Internal Revenue Services in order to avoid paying income tax this year

Back

Notify the credit card companies in order to negotiate a new payment plan

Front

Consumer Credit Counseling Services (CCCS) offer: Retirement Plans, Stocks and Bonds, Insurance Policies, Debt Repayment Plans

Back

Debt Repayment Plans

Front

Which of the following does the Federal Reserve use to regulate the nation's money supply? Fiscal Policy, Proposing Legislation, Monetary Policy, Regulations

Back

Monetary Policy

Front

In creating her budget, Ann realizes that her expenses exceed her income. Ann should immediately try to:

Back

Reduce or eliminate some expenses

Front

Buying a treasury bill (T-bill) is best for investors who are looking for:

Back

a secure, low risk investment

Front

The amount a lender charges to borrow money is called the:

Back

Interest rate

Front

Purchases made with your debit card are usually:

Back

Deducted immediately from your checking account

Front

Identify the background color of a U.S. $5.00 bill:

Back

Green