1. What are 2 primary factors in deciding to buy or lease a car? 2. What is the difference between a 30-year fixed rate mortgage and an ARM mortgage? Why would a borrower choose one over the other? 3. True/False An example of a non-depository institution would be a mutual fund. True 4. The loss of value in a car over time is called: Depreciation 5. All else being equal a loan with will be less expensive (lower rate): e. a. risky cedit b. collateral c prepayment penalties d. longer loan maturity 6. Low levels of interest rates can result in the following except: a. Discourage saving b Infation adjusted rate may be positive C. c. Penalizes people who have been saving all their life d. Encourages investors to take more risk trying to get higher return 7. What are the 5 C's of credit? Please briefly describe each 8. What is the debt safety ratio a. monthly payments/monthly take home pay b monthly take home paylmonthly payments c avg annual finance chargelaxg loan balance outstanding d. mortgage paymentinet of tax monthly take home pay 9. What is the purpose of a FICO score? What is the impact of a low FICO score vs a high FICO score as it relates to your personal finances? 10. What is the difference between chapter 13 and chapter 7 bankruptoy