PFLit

Front

Which of the following statements is true of legally binding contracts: Breaking one results in a lawsuit and possibly jail time. They are not valid unless written. They clearly outline both sides of an agreement. They are enforceable for legal and illegal acts.

Back

They clearly outline both sides of an agreement.

Front

Who is the creditor in the situation where Pedro Sanchez, a loan processor for the MON Company, has approved an application to extend a $10,000 line of credit to Mrs. Jones?

Back

MON Company

Front

One of the aims of regulating the insurance industry is to

Back

reduce the risk of gaps in coverage.

Front

Regulatory agencies in the security and investment industry aim to keep markets fair by

Back

banning illegal insider trading.

Front

Financial managers who are legally responsible for their clients' investments must demonstrate fiduciary responsibility, which involves

Back

acting in the best interests of their clients.

Front

Jana Rockford works at Main Street Savings and Loan. As a teller, what is one of Jana's job responsibilities?

Back

Telling her customers about banking products

Front

Based on the information, which agent is more likely to retain and grow his client base? Jonathan explains both the pros and cons of his products, while Hank only explains the positives.

Back

Jonathan, because his customers feel that they can trust him.

Front

What type of economic resource is being described in the following situations: salespeople waiting on customers, managers instructing employees, and insurance agents selling policies?

Back

Human

Front

The desire for an item that has monetary value is a(n) _________ want.

Back

economic

Front

Societies must decide how to allocate their scarce resources between the production of

Back

capital and consumer goods.