Identifying Types of Consumer Credit
Authored by Gretchen Matthews
Computers
12th Grade
Used 6+ times
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10 questions
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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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