
Credit Management
Authored by Tyler Smith
Other
9th - 12th Grade
Used 132+ times

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36 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The interest or money (including all fees) that is charged a borrower for the use of credit is the ____.
Finance Charge
Collateral
Capital
Principal
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The original amount borrowed on a loan is known as the ____.
Finance Charge
Collateral
Captial
Principal
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An all-purpose credit card, such as Visa, MasterCard, and Discover, is an example of which type of credit?
30-day credit agreement
Open/Revolving credit
Closed-end credit
Service credit
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is NOT an advantage of using credit?
It only allows you to shop at one store with it
It is convenient
It is safer than carrying around large sums of money
It is useful in emergency situations
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A loan for which the borrower pledges property to ensure repayment is a(n) ____
Installment purchase
Prorated loan
Secured loan
Contracted loan
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A mother and daughter have a joint credit card. The daughter goes to college and buys $1500 worth of books. Who is responsible for paying the debt?
The daughter because she is the one who charged the books.
Neither of them
The mother because it is always the parent’s responsibility.
Both the daughter and the mother because both of their names are on the account.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Property pledged to assure repayment of
a loan is called ____.
Capital
Character
Capacity
Collateral
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