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5.00 Bluff. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29. Han sued a furniture store that verified it provided inaccurate information about his credit history. Which regulation would protect him in having the information corrected?. Fair Credit Reporting Act. - PowerPoint PPT Presentation

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Page 1: 5.00 Bluff

5.00 Bluff1 2 3 4 5 6 7 8 9 1011 12 13 14 15 16 17

18 19 20 21 22 23 24 25 26 27 28 29

Page 2: 5.00 Bluff

Han sued a furniture store that verified it provided inaccurate information about his credit

history. Which regulation would protect him in having the information corrected?

Fair Credit Reporting Act

Page 3: 5.00 Bluff

What is the relationship between time and interest paid?

The longer the time, the more interest paid

Page 4: 5.00 Bluff

Fred's Electric Company receives over thirty service orders daily. The company's manager refers some of

the orders to another company, since she wants to maintain a

reputation of completing orders in a timely manner. How did the company handle the risks?

Transfer

Page 5: 5.00 Bluff

After talking with a Sears customer representative about

her overdue balance, Tina implemented a strategy that will minimize her debt. Tina used which type of credit

assistance?

Debt repayment plan

Page 6: 5.00 Bluff

GEICO Insurance Company opened several new offices to

accommodate requests of policy holders for face-to-face contact. This is an example of which type uninsurable risk?

Consumer demand

Page 7: 5.00 Bluff

JCPenney makes sure all applicants are creditworthy before issuing any of them

credit cards. Which regulation is JCPenney adhering? Equal Credit Opportunity Act

Page 8: 5.00 Bluff

Chase Mortgage Company sends quarterly summaries of

transactions. Which type of document does the company

send? Statement of account

Page 9: 5.00 Bluff

Jenny charged $300 worth of gifts while shopping at several stores. Which type of credit did

Jenny use?

Credit card

Page 10: 5.00 Bluff

ABC Rental Company requires applicants to verify reputation

for paying bills in order to determine potential credit risk.

Which factor examined by creditors does the company

require? Credit report

Page 11: 5.00 Bluff

The Electronics Company hires local delivery companies to set

up equipment. How does the company handle the risks of

setting up equipment? Transfer

Page 12: 5.00 Bluff

A Sears Department Store sales associate gave a

customer a form to complete to apply for a credit card. Which factor examined by creditors did the customer receive?

Credit application

Page 13: 5.00 Bluff

Many newspapers are experiencing fewer

subscribers since more subscribers are now obtaining news from the Internet. This is

an example of which type uninsurable risk?

Technology change

Page 14: 5.00 Bluff

ABC Investment Company invested over $300,000

obtained from their clients. The company gained 5% as a

return on its investment. This is an example of which type of

insurance risk? Speculative

Page 15: 5.00 Bluff

Name one thing that you could find on a credit statement.

Transactions, min payment due, balance

Page 16: 5.00 Bluff

It would cost a cosmetic company at least $1.49 to

produce a new line of shampoo. The company

decided to continue with its original production instead of

adding a new product. How did the company handle the

potential risks? Avoid

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Mary paid only $50 for unauthorized charges made to her Capital One MasterCard. Which regulation protected

her? Truth in Lending

Page 18: 5.00 Bluff

A local food company filed an insurance claim to compensate employees who lost personal belongings in a company fire. This is an example of which

type of insurance risk? Economic

Page 19: 5.00 Bluff

Walden Book Store obtained information about Ann's

reputation for paying her bills. Which factor examined by

creditors did the store receive?

Credit report

Page 20: 5.00 Bluff

A real estate agent has the responsibility to showcase

several homes in order to sell to potential customers. How is the agent currently handling

the risks? Assume

Page 21: 5.00 Bluff

ABC Television Station changed its lineup of shows in

response to a survey completed viewers. The station planned to increase its number of viewers for a season. How has the company handled the

risks? Assume

Page 22: 5.00 Bluff

While shopping among several stores, Tina charged over $700

worth of home improvement supplies. Which type of credit

did Tina use?

Credit card

Page 23: 5.00 Bluff

Mary makes prearranged equal payments monthly to Progress

Energy. Which type of credit did Mary use?

Charge account

Page 24: 5.00 Bluff

Tonya is considering shopping at a Rooms To Go furniture

store that advertises the option of payments for a period of three years. Which type of

payment option was advertised? Installment credit

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A sales associate encouraged customers to try on outfits in order

to have an experience with the clothes. He/she planned for the

experiences to convince the customers to purchase the clothes. This is an example of which type of

insurance risk?

Speculative

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A company agreed to compensate customers with

$30 for those who experienced damages while using irons produced by the company. This is an example of which

type of insurance risk? Economic

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Josh saved over $10,000 in a local bank while working on his job for the past six years.

Which "C" of credit is he MOST LIKELY to meet?

Capacity

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A bank loaned Doug $4,500 for 24 months. Which type of

credit did he accept? Consumer loan

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Sky Blue Credit Repair Company assists clients with

spending less on debt and eliminating credit problems.

With which type of credit assistance does the company

provide? Credit counseling

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The Whole Foods Market provides workshops on how to prepare healthy meals. During

the past three months, the attendance increased over 40%. This is an example of

which type uninsurable risk?

Consumer demand