4AA- Credit Quiz

Cash is always available. Consumers don't need credit.

• True

• False

___________ is borrowing money to make purchases.

• Credit

• Borrowing

• Loans

_________ is a form of credit.

• Hire Purchase

• Cash purchase

• Free samples

____________ is a system of paying a deposit to secure an item for later purchase.

• Hire Purchase

• Layaway

• Loans

_____________ is the taking of good for use on credit.

• Trust credit

• Hire purchase

• Layaway

____________ is the price of a product if you pay the whole amount immediately using money

• Selling price

• Cash price

• Hire purchase

The _______ is the one borrowing money.

• Hire purchaser

• Hirer

• Borrower

ONE responsible of the hirer is to:

• Pay in a timely manner

• Take long periods to pay

• Pay at intervals.

Before entering in a hire purchase agreement, one should:

• Be aware of the interest cost

• Sign the agreement without reading

• Destroy the goods then return it.

Which store provides Hire Purchase to customers?

• Courts Belize

• Nazarene High School

• Belize Police Department