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Understanding Credit and Its System

Authored by Bringas, B.

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University

Used 1+ times

Understanding Credit and Its System
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the essence of credit?

Futurity

Trust and confidence

Risk

Credit standing

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the word "credit" in Latin?

Futurus

Trust

Creditium

Creditor

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key element of the credit system that minimizes risk?

Securing the loan

Lower interest rates

Immediate repayment

Trust only in personal factors

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which era introduced a better banking and credit system to promote rural economic development?

Pre-Spanish time

Spanish era

American era

Under the Republic

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a functioning credit system require?

Facilities

Trust

Risk management

Monetary stability

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one advantage of installment buying?

Higher cost than cash purchases

Opportunity to budget better

Increased temptation to buy unnecessary items

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of installment purchases?

Helps build credit

Immediate access to goods

Encourages unnecessary buying

Provides flexible payment options

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