Types of Loans

Types of Loans

12th Grade

10 Qs

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Types of Loans

Types of Loans

Assessment

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12th Grade

Practice Problem

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Mr. Fraga

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the types of single payment loans?

payday loans, balloon loans, and bridge loans

mortgage loans

personal loans

installment loans

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the types of installment loans?

business loans

personal loans, auto loans, mortgage loans, and student loans

payday loans

credit card loans

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of loan requires the borrower to repay the entire amount in a single payment?

Fixed-rate loan

Balloon loan

Adjustable-rate loan

Installment loan

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of loan allows the borrower to repay the amount in multiple installments over a period of time?

Payday loan

Personal loan

Installment loan

Credit card loan

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of a single payment loan?

mortgage loan

personal loan

payday loan

student loan

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of an installment loan?

Mortgage loan

Credit card

Student loan

Car loan

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the advantages of single payment loans?

Flexible repayment options

Lower interest rates

Simplicity and convenience

Higher loan amounts

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