Consumer Credit

Consumer Credit

10th Grade

28 Qs

quiz-placeholder

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Consumer Credit

Consumer Credit

Assessment

Quiz

Business

10th Grade

Practice Problem

Hard

CCSS
7.RP.A.3

Standards-aligned

Created by

Frog 35

Used 10+ times

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28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Non-revolving consumer credit is a kind of credit that allows the consumer to draw credit for a particular amount.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Non-instalment credit requires the consumer to repay the full amount of the loan in a lump sum.

True

Dalse

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A credit card is non-revolving credit which allows the consumer to make purchases on credit.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The credit rating represents the ability of an individual to earn money by using a rating.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who has a good personal credit record is generally charged a lower interest rate when he applies for a loan.

True

False

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a classification of consumer credit?(1) Revolving consumer credit

(2) Fixed consumer credit

(3) Instalment credit

(1) only

(2) only

(3) only

(1) and (2) only

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is non-revolving credit?

Car loans

Credit cards

Overdraft facilities on current account

None of the above

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