Using Credit 2
Authored by Hadam Benachou
Computers
9th Grade
Used 7+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the principal amount for the new boat?
$50,000
$45,000
$5,000
$55,000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you know about the type of loan you are receiving?
The color of the bank
The prime interest rate of the loan
Whether it is tied to collateral
The bank manager's name
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is collateral in terms of a loan?
A type of currency
Security pledged for repayment of a loan
A bank account
A financial advisor
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do if you are unsure about your loan terms?
Ignore it
Ask for clarification
Guess the terms
Wait for a letter
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of loan relies solely on credit history and income to qualify?
Secured loan
Federally funded student loan
Private student loan
Unsecured loan
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which loan type offers better repayment terms due to federal funding?
Private student loan
Secured loan
Federally funded student loan
Unsecured loan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary factor for qualifying for an unsecured loan?
Collateral
Credit history and income
Federal funding
Loan amount
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