Joe and Jane Have a Tendency to Build Up Large

question 19

Multiple Choice

Joe and Jane have a tendency to build up large balances on their credit cards.Which of the following features would be least important to them?

• A)No annual fee
• B)Low interest rates on balances
• C)A long grace period
• D)The method of calculating balances
• E)High reward points

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Definitions:

Security Interest

A legal claim or lien on collateral that has been pledged, usually to secure repayment of a loan.

Attachment

A legal process in which a court designates property of the defendant to be seized or secured to satisfy a potential judgment.

Enforceable

A description of a legal agreement or contract that can be upheld or compelled by law.

Certificated Security

A security that is represented in physical, paper form rather than in electronic or digital form.