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ABA CTFA Practice Test - Questions Answers, Page 19
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Question 181
The 12b-1 fee covers_____________:
A.
Fund's distribution and advertising cost
B.
Investor education
C.
Fund manager's travel expenses
D.
Brokerage expenses
Suggested answer: A
Question 182
A________ is the time to pay your credit card bill without incurring finance charges.
A.
Time line
B.
Grace period
C.
Overtime pay
D.
Extension
Suggested answer: B
Question 183
An informal term for credit card is:
A.
ATM
B.
Discount card
C.
Plastic
D.
Play money
Suggested answer: C
Question 184
The total amount that you have to pay on a certain billing is:
A.
Monthly membership fees
B.
Minimum payment
C.
Outstanding balance
D.
Balancing act
Suggested answer: C
Question 185
____________ is the term used for the monthly report of all the accumulated charges.
A.
Savings account
B.
Balance
C.
Purchase breakdown
D.
Billing statement
Suggested answer: D
Question 186
It occurs when you don't make full payment on your previous bill.
A.
Discount
B.
Reward points
C.
Finance charge
D.
Membership fee
Suggested answer: C
Question 187
The least amount of money that you should pay on or before your due date is called:
A.
Interest charge
B.
Minimum payment
C.
Total payment
D.
Monthly fee
Suggested answer: B
Question 188
You can earn a ___________ when you continuously use your credit card for purchasing stuff.
A.
Credit
B.
Interest
C.
Reward
D.
Punishment
Suggested answer: C
Question 189
Credit cards offer ________ so you can withdraw money instantly.
A.
Cash reward
B.
Credit cash
C.
Mortgage
D.
Cash advance
Suggested answer: D
Question 190
Credit limit is:
A.
The maximium credit amount that can be used on your credit card
B.
The minimum credit amount that can be used on your credit card
C.
The maximium credit amount that can be used on your ATM card
D.
The minimium credit amount that can be used on your ATM card
Suggested answer: A
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