2. Nasca 2010 100 200 300 400 500

3. 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

4. A check that is more than six months old is a bad check stale check. voidable check. void check. stale check. 200

5. An order to a third party to pay money is called a bill of lading. certificate of deposit. draft. note. note 300

6. The person who writes a promissory note is called a(n) acceptor. drawer. maker. payee. maker. 400

7. 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

8. Certificates of deposit generally pay higher ____________________ than regular savings accounts. dividends exchanges fees interest interest 100

9. The omission of the ____________________ does not affect the negotiability of an instrument. amount date promise or order to pay signature date 200

10. There are two basic kinds of negotiable instruments: drafts and checks. drafts and bonds. notes and drafts. notes and CDs. notes and drafts 300

11. 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

12. When you receive a check made out to you in your name, you are called the maker holder assignee drawer holder 500

13. The party who buys the goods on credit is called the creditor. debtor. guarantor. secured interest. debtor 100

14. 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

15. The property pledged by the debtor as security for the debt is the collateral. interest. credit. surety. collateral 300

16. The party who sells goods on credit or lends money is called the ____________________. creditor. loanee. debtor. secured party. creditor 400

17. 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

18. 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

19. 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

20. A bankruptcy filing remains on a debtor's credit report for ______ six months. one year. ten years. life. ten years. 300

21. 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

22. 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 week 30 days 60 days 90 days 60 days 500