Posts

Showing posts from November, 2008

Trivia Finance Q&A

Questions : 1.Who was the first American to make $100 million a year? 2. Who devised and used the first electric stock quotation board 3. Who tried and failed to corner the silver market in the late 1970s? 4. What was the slowest trading day in New York Stock Exchange history? 5. Who was the first U.S. president in office to visit the New York Stock Exchange? 6. In what city was America’s first stock exchange located? 7. What company was the first to earn $1 billion in one year? 8. In what year did Ford Motor Company go public? 9.What company today was originally named the Computer-Tabulator-Recorder Company (C-T-R)? 10.What state is the corporate headquarters capital of the United States? 11. Who was America’s first billionaire? 12. What brokerage firm was founded in 1924 by four brothers from California?

Unsecured vs. Secured Loan

One day, at the bank, this long time depositor came in and asked to see a bank officer. " I would like to know the difference between a unsecured and a secured loan." The bank officer promptly pulls out a detailed binder listing rates and loan terms. " On an unsecured loan, we are lending money based on your credit history and amount of funds deposited. The current rate is 10% per annum." "For a secured loan, we would have to hold some tangible asset as collateral. Our current rate is 8% per annum." So the client thinks about a few minutes, and say " I would like to have a $10,000 secured loan. I will need the funds for only 6 months" The bank officer then starts filling out the necessary chattel mortgage papers. "What type of asset are you pledging? Your apartment building, your home, or your CD's" The clients replies, " I have a brand new 1996 Ferrari that is completely paid for. The pink slip is in my wallet. In