Credit Card Quiz Review
Authored by Thomas Walraven
Business
11th Grade
Used 1+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the maximum amount of money a credit card issuer will allow a cardholder to borrow?
APR
Balance
Credit Limit
Credit Score
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to a numerical representation of an individual's creditworthiness?
Annual Fee
Balance
Credit Score
Principal
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does APR stand for?
Average Payment Rate
Annual Payment Requirement
Annual Percentage Rate
Available Payment Ratio
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term describes the amount of money owed on a credit account?
Installment Credit
Service Credit
Balance
Revolving Credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of credit involves borrowing a fixed amount of money and paying it back in fixed payments over a period of time?
Installment Credit
Revolving Credit
Service Credit
Annual Fee
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to a type of credit that allows a borrower to continuously borrow money up to a certain limit?
APR
Variable Rate
Revolving Credit
Principal
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of credit is extended for services, such as electricity or water, that are used before payment is made?
Installment Credit
Service Credit
APR
Annual Fee
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