Wills
Protect Consumer/Taxpayer
Protect the Borrower
Protect the Creditor
MISC.
100
Dying without a will
What is intestate? (568)
100
to prohibit unfair business practices, to set minimum product standards, and to provide procedures for correcting wrongs.
What is Purpose of consumer protection law (page 592)
100
The maximum amount that may be owed on a credit card at any one time is called
What is a line of credit? (page 610)
100
An unsecured debt may be __________ and _________
What is oral or written (page 626)
100
One who agrees to pay a debt if the debtor defaults, but only after the debtor cannot or will not pay
What is a guarantor? (page 629)
200
Estate tax is imposed on the deceased's
What is net estate? (page 580)
200
An item sold at or below the costs in order to attract customers
What is a loss leader? (page 594)
200
Inability to pay debts as they become due
What is insolvency? (page 618)
200
Property used to secure payment on a loan is
What is collateral? (page 627)
200
One who receives benefits from a trust is called
What is a beneficiary? (page 582)
300
The process of establishing a will in court
What is probate? (page 574)
300
Exaggeration of the quality of merchandise
What is puffing? (page 594)
300
Property that MAY NOT be seized in bankruptcy is known as
What is exempt property? (page 619)
300
A contractor who is not paid for work done on a building may file a
What is a mechanic's lien? (page 631)
300
One who purchases goods and services for a personal use.
What is a consumer? (page591)
400
Person named to carry out the deceased's wishes is a(n)
What is executor? (573)
400
Federal agency responsible for product safety
What is Consumer Product Safety Commission? (page 598)
400
Charging an interest rate higher than the rate permitted by law is
What is usury? (page 618)
400
Court order directing the debtor to pay the amount owed.
What is a judgment? (page 627)
400
Forbids the use of threats or violence to collect an amount owed.
What is Fair Debt Collection Act? (page 617)
500
An amendment to a will is called
What is a codicil? (page 573)
500
Taxpayer's right to contest a decision involving income taxes is protected by
What is the Internal Revenue Service? (page 603)
500
A debit card holder who notifies the card issuer within two days of the card's loss is liable for
What is losses up to $50? (page 611)
500
Order permitting a creditor to seize a debtor's property to satisfy a debt is called a(n)
What is an execution? (page 627)
500
A security agreement must be signed by _________ and ___________
What is the debtor and the creditor? (page 627)
M
e
n
u