Types of credit & credit providers
Authored by Aimee Ross
Business
5th Grade
Used 9+ times
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17 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a credit provider?
Bank
Loan shop
Finance companies
Interest rate
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following would be a cost of a loan if you ensure your loan payment is paid by an agreed time? Tick all that apply
Interest
Penalties
Set up Fees
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the type of loan you get to buy a house?
Hire purchase
Mortgage
Credit card
Personal loan
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
These loans are used for all kinds of things such as weddings, renovations, holidays
Hire purchase
Mortgage
Credit card
Personal loan
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
These loans are usually given by shops that allow you to take a product home for example, a television or a washing machine and use it while you’re still paying it off.
Hire purchase
Mortgage
Credit card
Personal loan
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
These are usually issued by a bank and allows you to borrow money up to a certain limit to purchase goods now you usually have to make regular minimum repayments but can earn extras such as air points
Hire purchase
Mortgage
Credit card
Personal loan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
From the following list which credit provider would usually have lower interest rates charged?
Finance companies
Loan shops
Banks
Pay later options
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