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4AA- Credit Quiz

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Cash is always available. Consumers don't need credit.

a)

True

b)

False

2.

___________ is borrowing money to make purchases.

a)

Credit

b)

Borrowing

c)

Loans

3.

_________ is a form of credit.

a)

Hire Purchase

b)

Cash purchase

c)

Free samples

4.

____________ is a system of paying a deposit to secure an item for later purchase.

a)

Hire Purchase

b)

Layaway

c)

Loans

5.

_____________ is the taking of good for use on credit.

a)

Trust credit

b)

Hire purchase

c)

Layaway

6.

____________ is the price of a product if you pay the whole amount immediately using money

a)

Selling price

b)

Cash price

c)

Hire purchase

7.

The _______ is the one borrowing money.

a)

Hire purchaser

b)

Hirer

c)

Borrower

8.

ONE responsible of the hirer is to:

a)

Pay in a timely manner

b)

Take long periods to pay

c)

Pay at intervals.

9.

Before entering in a hire purchase agreement, one should:

a)

Be aware of the interest cost

b)

Sign the agreement without reading

c)

Destroy the goods then return it.

10.

Which store provides Hire Purchase to customers?

a)

Courts Belize

b)

Nazarene High School

c)

Belize Police Department