What is a peer-to-peer loan?
(1 point)
Responses
a loan from one entity electronically matched to another entity without a financial institution in the middle
a short-term loan at high interest rates initiated by a worker who needs cash immediately
a loan given without review of the borrower’s credit report or credit score
a type of loan where the title to an asset is used as collateral
What is an unsecured loan?
(1 point)
Responses
a debt whose repayment is guaranteed by a pledge of something of value or a guarantor
a payday loan
a mortgage
a car lease
What kind of loan is a federal student loan?
(1 point)
Responses
a revolving line of credit
an unsecured installment loan
a secured personal loan
an unsecured collateral loan
How does decreasing your credit card balance affect your income statement?(1 point)
Responses
It increases your monthly expenses, increasing the amount you spend each month.
It increases your monthly expenses, giving you more money to spend on other things.
It decreases your monthly expenses, increasing the amount you spend each month.
It decreases your monthly expenses, giving you more money to spend on other things.
What should you do before you complete your net worth statement?(1 point)
Responses
Redistribute the investments in your retirement account.
Decide what, if anything, you are going to leave to your children in your will.
Complete your income statement.
Determine or estimate the current value of everything you own.
