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Worksheets25.2 Business Self check
Total questions: 10
Worksheet time: 5mins
A loan that is to be repaid in two years would be classified as ___________.
brief term
medium term
long term
short term
The most important factor in determining the cost of credit is the __________.
amount of the loan
risk the creditor takes
length of the loan
risk the debtor takes
Credit provided by a store is called a _____________.
charge account
credit permit
courtesy account
store credit
A ____________credit card can be used only to buy goods or services at the business that issued the card.
single function
single course
single purpose
single use
Bank credit cards are issued by ____________
banks
credit card companies
stores and oil companies
stores, banks, and oil companies
Travel and entertainment cards require cardholders to pay _________each month.
a minimum payment
the full amount
a service fee
interest
A 15-year installment loan that is used for the purchase of a home is called a __________loan.
home improvement
real estate
mortgage
single purpose
Something of value the bank can take if a borrower does not make the required loan payments is called _________.
certification
security
collateral
warrant
Payday advance services offer short-term loans, usually ___________days.
3 to 4
15 to 30
5 to 14
21 to 28
Credit card holders receive a monthly ___________showing all the purchases they have made in the last month.
invoice
report
letter
statement
