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Credit Management Test Review

Authored by YShakaa Durham

Education

12th Grade

Used 46+ times

Credit Management Test Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________ is the use of someone else's money, borrowed now with the agreement to pay it back later.

Debit

Credit

Collateral

Capital

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Between 1920 and 1990, buying on _______ became the American way of life.

Cash

Debit

Capital

Credit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ___________ is a person who borrows money from others.

creditor

Loaner

Lender

Debtor

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _________ is a person or business that loans money to others.

creditor

debtor

capital

collateral

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To qualify for credit, you must have the ability to repay the loan. Qualifications are based on

income, capital, cars

income, capital, collateral

cars, capital, collateral

income, cars, collateral

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Two disadvantages of credit are

deferred billing, buying now

emergency fund, purchasing power today

paying finance charges, overspending

buying now, emergency fund

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your credit __________ is the complete record of your borrowing and repayment performance.

files

history

card

account

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