Identifying Types of Consumer Credit

Identifying Types of Consumer Credit

12th Grade

10 Qs

quiz-placeholder

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Identifying Types of Consumer Credit

Identifying Types of Consumer Credit

Assessment

Quiz

Computers

12th Grade

Practice Problem

Medium

Created by

Gretchen Matthews

Used 2+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of consumer credit is typically used for everyday purchases and has a revolving credit limit?

Personal loan

Payday loan

Debit card

Credit card

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of consumer credit is often used for large purchases like homes or real estate?

Mortgage

Credit Card

Student Loan

Personal Loan

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of consumer credit is specifically used for purchasing a vehicle?

Student loan

Auto loan

Personal loan

Home loan

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which consumer credit option is known for its high interest rates and short repayment terms?

Payday loans

Mortgages

Credit cards

Personal loans

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of consumer credit is often used for emergency expenses and has a very short repayment period?

Credit cards

Student loans

Payday loans

Personal loans

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of consumer credit is unsecured and can be used for various personal expenses?

Credit card

Home equity loan

Payday loan

Personal loan

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of consumer credit is secured by the purchased vehicle itself?

Auto loan

Mortgage

Personal loan

Credit card

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