首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
• Read the article below about American consumers’ borrowing styles, and the questions on the opposite page. • For each question
• Read the article below about American consumers’ borrowing styles, and the questions on the opposite page. • For each question
admin
2014-03-03
86
问题
• Read the article below about American consumers’ borrowing styles, and the questions on the opposite page.
• For each question 13--18, mark one letter (A, B, C, or D) on your Answer Sheet for the answer you choose.
HOW DO AMERICAN CONSUMERS BORROW?
Young consumers often have not established their credit ratings. Many do not have steady incomes. They might have difficulty borrowing money from an agency in business to make loan. Parents or relatives are usually their best source of loans. Of course, the parents or relatives would have money available and be willing to lend it. You might even get an interest-free loan.
For most consumers the cheapest place to borrow is at the commercial bank. Banks are a good source of installment loan which may run for 12 months up to 30. Most of banks also make single-payment loans to consumers for short periods--30, 60, or 90 days. The newest type of bank loan is one that a depositor can get simply by writing a check. It works like this. A depositor is given a limited amount of credit, usually between $ 500 and $1, 000. He or she may write checks up to the amount allowed. Once a check has been written, the amount of the check becomes a loan. Usually no charge is made for interest until the loan is made. A typical interest rate is 3 cents per $100 per day, or just under 1% a month. Suppose that you used $100 of your credit and repaid it in 30 days. The cost would be 90 cents. If you repaid it in 10 days, the cost would be only 30 cents.
There is another source of consumer loans that may be even cheaper than a bank. It is a credit union. But you have to be a member to borrow from one. A credit union is a cooperative. You remember that a cooperative is a business organized to provide its owners, or members, with goods or services at a saving. Like a bank, a credit union is both a savings and a lending organization. Its members deposit their savings in the credit union and are paid interest in return. These savings are used to make loans to members at low rates. Members of a credit union are people with a common bond. They may work for the same firm or belong to the same church, lodge, or labor union.
Consumer loans are small in amount compared to those made to business firms. Companies that specialize in making loans to consumers, therefore, are sometimes called small-loan companies. These companies operate under state laws which regulate both the maximum amount that can be loaned and the rates charged. Regulations vary from one state to another. In general, however, the rates charged by small-loan companies are higher than those of other legal lenders except pawnbrokers. The following facts should tell you why.
Half or more of the loans made by small-loan companies are signature of character loans. Practically all loans are paid in installments. In some states, small-loan companies will lend as little as $ 25 or $ 50. Many of their customers are persons whose credit ratings are so poor that they cannot borrow elsewhere.
Another possible source of loans is a life insurance policy. Life insurance loans are easy to obtain. The rate charged is less than that for almost any other type of loan available to consumers. This is because the lender takes no risk. Also, borrowers may take as long as they want to repay their loans. Although that may seem like an advantage, it can also be a disadvantage. When a borrower is not required to repay a loan within a certain time, it is easy to let it run on and on. This increases the dollar cost of the loan because interest must be paid for as long as the loan continues.
Which is not mentioned on borrowing from a small-loan company?
选项
A、These companies operate differently under state laws.
B、These companies charged lower than pawnbrokers.
C、Most of the loans made by these companies have no guarantee.
D、Customers must repay the loans in installment.
答案
C
解析
转载请注明原文地址:https://kaotiyun.com/show/pcoO777K
本试题收录于:
BEC中级阅读题库BEC商务英语分类
0
BEC中级阅读
BEC商务英语
相关试题推荐
Lookattheformbelow.Youwillhearamancallingaboutrentinganapartment.HiringRegistrationDate:5thJ
ThevisitoftheAmericanDelegationwill______.Mr.Smithexpresseshissincerethanksto______.
ThebasiccharacteristicofcountertradetransactionsisthatWhichofthefollowingstatementsaboutbartertradeisnotcorre
•Therearethirtyquestionsonthisquestionpaper.•Instructionsaregivenonthetape.•YoucanwriteonthisQuestionPape
ThemergerwasexpectedtohelpthecombinedcompanytoTheChairmanrecentlyblamedthegroup’spoorperformanceon
•Inthispartyoulistentwicetoalongconversation,interviewormonologue,andanswereightquestions.•Beforeyoulisten,
ThecrisismetbyJapanesechemicalgroupsiscausedby,oneofthereasons______.Thedividendof______remainsthesameas
From1971until1986,Japaneseshareinhightechnologyexportmarketincreasedby______.Inthearticlesmallcountriesarel
Beingamanagementtrainee,Miss.SophiaThorn
YouwillhearapartofaspeechabouttheAsiancrisis.Choosethebestanswerforeachofthequestions(23—30).Markonele
随机试题
A.附子B.苦杏仁C.延胡索D.马钱子E.炉甘石炮制有利于有效成分损失减少的药物是
削痂手术成功的关键是
A.ASTB.cTnIC.MbD.ALTE.LDAMI诊断最特异的心肌标志物是
当翼缘连接处的弯矩为946kN·m时,翼缘连接一侧螺栓所承受的轴力为______。翼缘连接处一个螺栓连接的抗压承载力设计值为______。
声环境影响评价的主要内容包括()。
某施工项目由预算表可知,其直接工程费为500万元,按规定标准计算的措施费为100万元,按直接费计算的间接费费率为15%,按直接费与间接费之和计算的利润率为2%,则该项目的不含税金的造价为_______万元。()
下列各项中,应通过“其他业务成本”科目核算的有()
购物:银行卡
Ineednewheelsontheseshoes;thepresentonesare______.
英国一项研究显示,女性很难长期保守秘密,她们往往在48小时内就将秘密泄露给他人。研究人员通过对3000名18岁至65岁女性的调查发现,她们保守秘密的时间平均不超过47小时零15分钟。研究显示,大约40%的受调查者不论消息有多私密或多机密,都无法
最新回复
(
0
)