Philippines - Preparations for APEC

The video provides a brief introduction to the concept of loans, explaining the basic idea and purpose of taking a loan.

What is the primary purpose of taking a loan?

• To increase savings

• To reduce expenses

• To fulfill financial needs

• To avoid taxes

Which of the following is a common type of loan?

• Personal loan

• Grocery loan

• Pet loan

• Vacation loan

Which type of loan is typically used for buying a house?

• Credit card loan

• Auto loan

• Mortgage

• Student loan

What should you consider when choosing a loan?

• The bank's location

• The interest rate

• The color of the bank

• The bank's logo

What is a key factor in determining loan eligibility?

• The applicant's favorite color

• The applicant's credit score

• The applicant's height

• The applicant's shoe size