FP 100T Week 3 WileyPLUS Weekly Exam
FP 100T Week 3 WileyPLUS Weekly Exam
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FP 100T Week 3 WileyPLUS Weekly Exam
In this graded assignment, you are assessed on the content covered in this weeks' readings, activities, and assignments. To help you prepare, it is recommended that you first complete this week's Learning Path and Self-Test Learning Activities prior to completing this exam.
Complete the Week 3 WileyPLUS Weekly Exam covering this week's assigned readings:
- "Chapter 5: Managing Credit: Credit Cards and Consumer Loans"
- "Chapter 6: Making Automobile and Housing Decisions"
Note: Work submitted in WileyPLUS does not count toward attendance. Be sure to post at least two times each week in the online classroom to avoid being auto-dropped from the course.
Question 1
Your answer is correct.
In calculating the annual percentage rate on a credit card account, the total annual finance charges includes interest and
late payment charges
all fees and charges assessed on the account
mandatory annual fee
overlimit charges
Question 2
The purpose of an amortization table is to
estimate the average monthly balance
calculate monthly payments on a mortgage
show the breakdown of monthly payments into interest paid on the outstanding balance and principal repayment over the life of a loan
identify when the loan will be paid in full
Question 3
Your answer is correct.
The legal document that specifies the terms and conditions of a consumer loan is the
trust agreement
lien
promissory note
judgement
Question 4
Your answer is correct.
When real property is used as collateral to secure a loan, the lender records a __________ against the property.
deed
mortgage
judgement
lien
Question 5
Your answer is correct.
In assessing a person’s creditworthiness using the Five Cs of Credit, which of the following is applicable in the category of “capacity”?
the income of the person applying for credit
the value of the asset that will secure the loan
the amount of other debt the applicant already owes
the credit score of the person applying for credit
Question 6
Your answer is correct.
Which type of bankruptcy requires the liquidation of most of your assets?
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https://uopcourse.com/category/fp-100/
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You can buy more tutorials from the below link
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