322-21

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Author:
SAngell3
ID:
223266
Filename:
322-21
Updated:
2013-06-10 15:15:27
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322 21
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Description:
322-21
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  1. Recently the Federal Reserve estimated that US households hold nearly $23 trillion in owner occupied housing and consumer durable goods.  

    A) True  
    B) False
    A) True  
  2. The total wealth of American households stands at $75 trillion.  

    A) True  
    B) False
    B) False
  3. Home mortgage for US households climbed above $10 trillion dollars in 2009, representing about 4/5 of all household debt.  
    A) True  
    B) False
    A) True
  4. Lenders are required to disclose the total dollar cost associated with granting a loan because of the Truth in Lending Law.  

    A) True  
    B) False
    A) True  
  5. The Equal Credit Opportunity Act has assisted men, who are a major beneficiary of the Act.  
    A) True  
    B) False
    B) False
  6. US households owed more than __________ to various lending institutions by year-end 2009.  

    A) $2 trillion  
    B) $10 trillion  
    C) $14 trillion  
    D) $6 trillion  
    E) none of the above
    C) $14 trillion  
    (this multiple choice question has been scrambled)
  7. Both consumer ______________ tend to follow the ups and downs of the business cycle, as households tend to use borrowing and savings as devices to smooth out consumer spending over the course of the business cycle.  

    A) saving and borrowing  
    B) pay and borrowing  
    C) saving and pay  
    D) all of the above  
    E) none of the above
    A) saving and borrowing
    (this multiple choice question has been scrambled)
  8. Most studies of the bankruptcy phenomena find the principal cause of bankruptcy filings to be the result of:  

    A) destruction of a home.  
    B) medical expenses.  
    C) living beyond one's means.  
    D) divorce.  
    E) A, C, and D only
    E) A, C, and D only
    (this multiple choice question has been scrambled)
  9. The most important institution in consumer lending is:  

    A) the savings and loan.  
    B) the commercial bank.  
    C) the finance company.  
    D) the life insurance company.  
    E) none of the above
    B) the commercial bank.  
    (this multiple choice question has been scrambled)
  10. A financial instrument whose rate of return is based upon some other market indicator is known as a(n):  

    A) market-index certificate of deposit or index mutual fund.  
    B) combined brokerage and cash-management service.  
    C) automatic transfer service (ATS).  
    D) share account.  
    E) none of the above
    A) market-index certificate of deposit or index mutual fund.  
    (this multiple choice question has been scrambled)

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