Finance quiz | Business & Finance homework help

Don't use plagiarized sources. Get Your Assignment on
Finance quiz | Business & Finance homework help
Just from $13/Page
Order Now

1. If you’re considering purchasing a new home, the mortgage
lender will probably require a down payment. The amount will
be based on the lender’s required
A. loan-to-value ratio. C. home listing value.
B. credit investigation. D. market conditions.
2. Another requirement of lenders in considering mortgage loans
is the borrower’s ability to repay the loan. In this regard, lenders
often calculate an affordability ratio that’s
A. total debt payments, including the proposed loan, to
net income.
B. total monthly payments on all debt to gross income, plus
mortgage payments.
C. net income to total mortgage interest.
D. monthly mortgage payments to monthly gross income.
3. Variable auto ownership costs are most dependent on
A. driver behavior. C. city lived in.
B. mileage driven. D. down payment.
4. There are now many different types of transaction accounts. Entities that have grown very
rapidly by pooling funds and offering check type transaction services are
A. commercial banks. C. savings and loan organizations.
B. credit unions. D money market mutual funds.
5. Poor record keeping and bad cash management can result in a check being drawn on your
bank with insufficient funds. This problem is known as a(n)
A. illiquid check. C. early withdrawal.
B. overdraft. D. check draft.
6. You must get money to your son in another city so that his account has “good funds.” A
bank service that would be useful is
A. electronic funds transfer. C. overnight mail.
B. automated teller transaction. D. certified check.
7. The day-to-day management of our finances to ensure that we have money available to
meet obligations is called
A. liquid assets. C. financial management.
B. cash management. D. check balancing.
8. Which of the following would you expect to pay the highest rate of interest?
A. Cash C. Savings account
B. Checking account D. Certificate of deposit
9. If you went to an institution that specialized in real estate mortgage loans to request a first
mortgage loan for your new house, you would probably be at a
A. commercial bank. C. savings and loan.
B. real estate broker. D. brokerage company.
10. You’ve decided to start a regular savings program. While the best amount of liquid savings
for anyone depends on that person’s unique circumstances, a rule of thumb would be to
have enough savings for
A. one year of total income.
B. one year of after-tax income.
C. two months of after-tax income.
D. three to six months of after-tax income.
11. You’ve opened a savings account in the amount of $10,000 with a nominal or offered
interest rate of 5% and quarterly compounding.You leave your money in the account
for exactly one year, ending at the end of the quarter. Approximately how much money
is in your account, including interest?
A. $10,500 C. $10,525
B. $10,509 D. $10,552
12. You have a regular savings plan in which you’ve set aside $1,000 in a money market
account that compounds interest every month. Assuming the nominal interest rate is 6%,
how much money will you have in your account at the end of a year?
A. $938.32 C. $1,061.68
B. $1,060.00 D. $1,072.00
13. If you calculated the interest rate that you actually earned in 11 and 12 above, you would
have calculated what rate?
A. Nominal C. Offered
B. Traditional D. Effective
14. One of your concerns when you consider opening deposit accounts is the safety of your
money. Fortunately, many financial institutions are insured by the Federal Deposit Insurance
Corporation (FDIC). However, the FDIC limits the amount of insurance for a single depositor
to the amount of
A. $100,000. C. $1,000,000.
B. $10,000. D. $1,000.
15. In the lease versus buy decision for an automobile, one of the most critical economic
factors isn’t known but must be estimated. That factor is
A. the vehicle purchase price. C. the required payments.
B. the residual value. D. the financing costs.
16. If you intend to drive the same car for 10 years, you would most likely
A. buy a used car. C. enter into an open-end lease.
B. enter into a closed-end lease. D. buy a new car.
17. The major economic difference in evaluating an open-end lease versus a closed-end lease
A. the term. C. the residual value.
B. the interest rate. D. the down payment.
18. In the rent-or-buy decision, which factor would be an important economic consideration?
A. The number of bathrooms
B. The ability to deduct interest expense on your tax return
C. The ages of your children
D. The use of a real estate broker
19. When buying a home, you want to make sure your ownership can’t be disputed later on.
One way for your settlement attorney to help ensure this is to arrange for a
A. settlement binder. C. release form the listing broker.
B. closing statement. D. title check.

20. You’re looking for a first mortgage loan with the lowest possible interest rate and may have
to move in a few years. Therefore, the best type of loan for you is probably a(n)
A. conventional fixed-rate mortgage.
B. adjustable-rate mortgage (ARM).
C. home equity loan.
D. unconventional fixed-rate mortgage

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

At Myhomeworkwriters.com, we always aim at 100% customer satisfaction. As such, we never compromise o the quality of our homework services. Our homework helpers ensure that they craft each paper carefully to match the requirements of the instruction form.

Professional Academic Writers

With Myhomeworkwriters.com, every student is guaranteed high-quality, professionally written papers. We ensure that we hire individuals with high academic qualifications who can maintain our quality policy. These writers undergo further training to sharpen their writing skills, making them more competent in writing academic papers.

Affordable Prices

Our company maintains a fair pricing system for all academic writing services to ensure affordability. Our pricing system generates quotations based on the properties of individual papers.

On-Time delivery

My Homework Writers guarantees all students of swift delivery of papers. We understand that time is an essential factor in the academic world. Therefore, we ensure that we deliver the paper on or before the agreed date to give students ample time for reviewing.

100% Originality

Myhomeworkwriters.com maintains a zero-plagiarism policy in all papers. As such, My Homework Writers professional academic writers ensure that they use the students’ instructions to deliver plagiarism-free papers. We are very keen on avoiding any chance of similarities with previous papers.

Customer Support 24/7

Our customer support works around the clock to provide students with assistance or guidance at any time of the day. Students can always communicate with us through our live chat system or our email and receive instant responses. Feel free to contact us via the Chat window or support email: support@myhomeworkwriters.com.

Try it now!

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Homework Writing Services

My Homework Writers holds a reputation for being a platform that provides high-quality homework writing services. All you need to do is provide us with all the necessary requirements of the paper and wait for quality results.


Essay Writing Services

At My Homework Writers, we have highly qualified academic gurus who will offer great assistance towards completing your essays. Our homework writing service providers are well-versed with all the aspects of developing high-quality and relevant essays.


Admission and Business Papers

With Myhomeworkwriters.com, we will help you secure a position at your desired institution. Our essay writing services include the crafting of admissions papers. We will still help you climb your career ladder by helping you write the official papers that will help you secure a job. We will guide you on how to write an outstanding portfolio or resume.


Editing and Proofreading

Myhomeworkwriters.com has a professional editorial team that will help you organize your paper, paraphrase it, and eliminate any possible mistakes. Also, we will help you check on plagiarism to ensure that your final paper posses quality and originality.


Technical papers

My Homework Writers harbors professional academic writers from diverse academic disciplines. As such, we can develop homework writing services in all academic areas. The simplicity or complexity of the paper does not affect the quality of homework writing services.