Exercise - 179
Question: 1 Ben and Jen need money to redecorate their home. So, they asked a loan officer if they qualify for a ....... instead of a second-mortgage on their house.
Correct Answer : 1 [line of credit]
Notes: Ben and Jen need money to redecorate their home. So, they asked a loan officer if they qualify for a line of credit instead of a second-mortgage on their house.
Question: 2 Nowadays, bank customers have more options. For example, they can pay their bills over the telephone or they can pay them ........
Correct Answer : 2 [online]
Notes: Nowadays, bank customers have more options. For example, they can pay their bills over the telephone or they can pay them online.
Question: 3 Some people rent a ....... in order to keep important papers and items safe.
Correct Answer : 3 [safety deposit box]
Notes: Some people rent a safety deposit box in order to keep important papers and items safe.
Question: 4 Almost all customers have a ....... card so they don't have to go into the bank to withdraw money. They can also use their cards to purchase goods in stores.
Correct Answer : 4 [debit]
Notes: Almost all customers have a debit card so they don't have to go into the bank to withdraw money. They can also use their cards to purchase goods in stores.
Question: 5 Laurie has two accounts. She can ....... funds from her checking account into her savings account right over the phone.
Correct Answer : 5 [transfer]
Notes: Laurie has two accounts. She can transfer funds from her checking account into her savings account right over the phone.
Question: 6 Every month, Kevin ....... his bank statement in order to balance his checkbook.
Correct Answer : 6 [reviews]
Notes: Every month, Kevin reviews his bank statement in order to balance his checkbook.
Question: 7 Mary has an appointment with a loan ....... because she wants to buy a new car and needs $3000 to complete the purchase.
Correct Answer : 7 [officer]
Notes: Mary has an appointment with a loan officer because she wants to buy a new car and needs $3000 to complete the purchase.
Question: 8 Karen learned how to ....... her checkbook at an early age. Her father thought it was important.
Correct Answer : 8 [balance]
Notes: Karen learned how to balance her checkbook at an early age. Her father thought it was important.
Question: 9 Rose and Tom want to get approved for a ....... because they want to buy a house this year.
Correct Answer : 9 [mortgage]
Notes: Rose and Tom want to get approved for a mortgage because they want to buy a house this year.
Question: 10 Normally, people get ....... for a mortgage before they go house shopping so they know what kind of house they can afford to buy.
Correct Answer : 10 [pre-approved]
Notes: Normally, people get pre-approved for a mortgage before they go house shopping so they know what kind of house they can afford to buy.