
Credit & Debt Review (Bus Law)
Authored by Barry Spohn
Business
11th - 12th Grade
Used 6+ times

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19 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
What does APR stand for?
Almost Perfect Rate
Annual Payment Required
Annual Percentage Rate
Acquired Perentage Rate
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A lender must disclose upfront the APR and total cost of the loan under the Truth in Lending Act
False
True
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
You can be turned down for credit based upon your gender, race, and income.
True
False
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Debt collectors may threaten you with harm or jail time in order collect payment.
False
True
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
You have the right to know what personal information about you is being held by the credit bureaus.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you avoid paying interest on a credit card?
Make the full payment 10 days after the due date.
There is no way to avoid the interest charge.
Make the minimum payment each month.
Pay the balance in full on time each month.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If your credit card is lost or stolen and purchases are made; you can be held responsible for ___ if it is reported in a timely manner.
the first $100
all the transactions
the first $50
none of the transactions
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