
Credit and Borrowing Quiz
Authored by MICHAEL HARTMAN
Business
11th Grade
Used 3+ times

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55 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the term for the difference between the market value of a property and the amount owed on it?
Equity
Net worth
Asset
Capital
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a credit card issued by a retailer that can only be used in that retailer’s store and its affiliates called?
Retailer/store credit card
Store loyalty card
Retail membership card
Store charge card
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the specific amount of time after the due date during which the borrower can delay a payment without incurring a penalty?
Grace period
Late fee waiver
Payment extension
Penalty-free duration
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a short-term, unsecured loan, usually at high interest rates, initiated by a worker who needs cash immediately?
Payday loan
Cash advance
Title loan
Installment loan
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Who is a person appointed to oversee a bankruptcy case?
Bankruptcy Trustee
Bankruptcy Administrator
Insolvency Practitioner
Receivership Manager
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is an interest rate on a loan that changes over time to reflect changes in the benchmark rate or index?
Variable interest rate
Fixed interest rate
Adjustable interest rate
Floating interest rate
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the process under which some of your property is sold in order to pay off some or all of your debts?
Chapter 7 bankruptcy
Chapter 13 bankruptcy
Debt settlement
Liquidation
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