Long-term financial long-term geal achievement a consuier on borrewing funds. Th

Question

Long-term financial long-term geal achievement a consuier on borrewing funds. The type of loan that does not fulfill the loans ofen depend on borrowing funds. The type of koan tdat does not fulfill the instalimen c. automobile d. mortgage e. single payment 2. The most popular use of consumer loans is to a. parchase a car b. finance a college education ci finance a vacaticn d. buy a house e buy fumiture 3. Consumers whose debt burden has become very heavy might apply for a personal loan b. single payment loan single payment loan c. buy-down loan. d. d. consolidation loan. e interim financing. you must a demonstrate financial need. b. visit the financial institution. c. apply through your parents all of the above e a and c only Regarding student loans, which ofthe following is neg true? a· They are available for both undergraduate and graduate students. b. Applications can be filled out on the Internet C. There is no limit on how much can be borrowed. d. There is no limit on the number of loans one can have e Interest may be tax deductible. o, . Which ofthe following is accurate concerning 529 college savings plans? a. Contributions are tax deductible for both state and federal income taxes b. Eamings are tax-free when used for qualifying educational expenses. c. They have no impact on qualifying foe financial aid d. There is no limit on how much can be contributed. e. All of the above. Commercial banks generally charge lower interest rates than other lending nstitu tions because they make shorter term loans. b. they usualy take only the best credit risks c. depositors require lower rates d. they get their funds in the open credit market e. they make secured loans only

Explanation / Answer

Question Answer 1 b 2 d 3 c. 4 d 5 c. 6 a,b,d 7 c. 8 a 9 b 10 c. 11 e 12 b 13 d 14 c. 15 c. 16 b 17 b 18 a 19 b 20 d

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