Lending Practices and Loans, Finance And Accounting

Question: What is the term used when a borrower does not pay back their loan?
A
Recession

B
Default

C
Extraction

D
Extortion

Note: Answer not sure
1. Report
Question: What does the term "Foreclosure" denote?
A
The transfer of the seller's existing mortgage to the buyer

B
The process of applying for a mortgage

C
The Legal process by which the lender or the seller forces the sale of a mortgaged property because the borrower has not met the terms of the mortgage.

D
The process of finding undervalued properties for investment purposes

Note: Answer not sure
1. Report
Question: How do consumers abuse loan practices?
A
They lie on their credit applications to get better interest rates

B
People obtain loans with no plan to pay them back

C
People use loan funds for purposes other than they should

D
All of these

Note: Answer not sure
1. Report
Question: Why have credit cards become a popular method of payment?
A
Because no credit history is required to get a credit card

B
Because they are inexpensive

C
Because regular loans are no longer available to everyday consumers

D
Because they enable a person to make purchases without having any money at the time of the purchases

Note: Answer not sure
1. Report
Question: How are borrowers affected by nonpayment of loans?
A
It helps bolster their credit report

B
They get a discount on future loans

C
They are offered additional credit by the lender

D
Their credit report begins to indicate late payments, reducing their ability to receive credit in the future

Note: Answer not sure
1. Report
Question: Which of the following is a reason for the proliferation of credit cards?
A
The government promotes the use of credit cards

B
It is healthy for people to spend beyond their means

C
People want to use them for vacations

D
It is easy to apply for and get a credit card

Note: Answer not sure
1. Report
Question: How would a 10 year loan show up on a company balance sheet?
A
As a short term liability

B
As a long term liability

C
As an asset

D
As revenue

Note: Answer not sure
1. Report
Question: What is meant by a secured credit card?
A
An open line of credit

B
A credit card with a fixed monthly amount of payment

C
A credit card by someone other than a major bank

D
A credit card to get which a deposit account must be established; often 100% of the available credit is required as a deposit

Note: Answer not sure
1. Report
Question: Why is a loan not taxable income?
A
Because there are laws against it

B
Because there is no increase in the wealth of the person taking a loan

C
Because people lie on their tax returns and do not include it

D
Because taxing them is not fair to people

Note: Answer not sure
1. Report
Question: What is "Equity"?
A
The value of the assets inside the house

B
The total value of the house

C
The value of the house after loans are subtracted

D
The amount of the mortgage

Note: Answer not sure
1. Report

First Prev 4 5 6 7 8 Next Last

Question: What is the term used when a borrower does not pay back their loan?

Question: What does the term "Foreclosure" denote?

Question: How do consumers abuse loan practices?

Question: Why have credit cards become a popular method of payment?

Question: How are borrowers affected by nonpayment of loans?

Question: Which of the following is a reason for the proliferation of credit cards?

Question: How would a 10 year loan show up on a company balance sheet?

Question: What is meant by a secured credit card?

Question: Why is a loan not taxable income?

Question: What is "Equity"?