nasca 2010 100 200 300 400 500 if you want to cancel a check that you have written but that has not...
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Nasca 2010
100 100 100 100
200 200 200 200
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400 400 400 400
500 500 500 500
Banking and Negotiable Instruments Part 2
(Chapter10)
Credit & Debt
(Chapter 11)
Banking and Negotiable Instruments Part 1
(Chapter 10)
Credit Protection and Bankruptcy
(Chapter 12)
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If you want to cancel a check that you have written but that has not been paid, you can issue a
material alteration order. stale check order.
stop-payment order. substitute check order.
stop-payment order.
100
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A check that is more than six months old is a
bad checkstale check.
voidable check. void check.
stale check.
200
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An order to a third party to pay money is called a
bill of lading. certificate of deposit.
draft. note.
note
300
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The person who writes a promissory note is called a(n)
acceptor. drawer. maker. payee.
maker.
400
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In order to be negotiable, negotiable instruments must
be conditional. be made orally or in writing.
have a signature. not have a definite time they are due.
have a signature.
500
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Certificates of deposit generally pay higher ____________________ than regular savings
accounts.
dividends exchanges
fees interest
interest
100
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The omission of the ____________________ does not affect the negotiability of an instrument.
amount
date promise or order to pay
signature
date
200
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There are two basic kinds of negotiable instruments:
drafts and checks. drafts and bonds. notes and drafts. notes and CDs.
notes and drafts
300
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A bad check is one that
is drawn on an account in which there is insufficient funds.
is signed by someone other than the drawer. the bank is liable for any loss that you might suffer.
the bank deems to old to honor.
is drawn on an account in which there is insufficient
funds. 400
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When you receive a check made out to you in your name, you are called the
makerholder
assignee drawer
holder
500
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The party who buys the goods on credit is called the
creditor. debtor.
guarantor. secured interest.
debtor
100
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Interest is
a fee creditors charge for lending you money. a way to receive goods now and pay for them later.
the property that is offered as security when you borrow money.
also called a guarantee for repayment.
a fee creditors charge for lending you money.
200
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The property pledged by the debtor as security for the debt is the
collateral. interest. credit. surety.
collateral
300
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The party who sells goods on credit or lends money is called the ____________________.
creditor. loanee. debtor.
secured party.
creditor
400
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Creditors have access to your collateral if you have
closed-end credit. open-ended credit.
a secured loan. an unsecured loan.
A secured loan.
500
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Repossession occurs when
a creditor reclaims property on which it has a lien if the debtor does not make a payment.
a worker's earnings are withheld for payment of a debt.
a debtor reclaims property on which it has a lien if the creditor does not make a payment.
the interest rate is restricted due to local usury laws.
a creditor reclaims property on which it has a lien if the
debtor does not make a payment.
100
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A usury law restricts the amount of
credit cards a person has available to use.debt a person has.
income a person can make if filing for bankruptcy.
interest charged on a loan.
interest charged on a loan.
200
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A bankruptcy filing remains on a debtor's credit report for ______
six months. one year. ten years.
life.
ten years.
300
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The Fair Credit Billing Act requires
credit repair organizations to offer their services for free.
creditors to correct billing errors brought to their attention.
debt collectors to identify themselves when calling to collect a debt.
debtors to pay disputed amounts while creditors are making corrections.
creditors to correct billing errors brought to their
attention.
400
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If you believe an error has been made on your credit card bill, how long do you have to notify the
creditor from the date of the credit card statement?
one week30 days 60 days90 days
60 days
500