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WorksheetsDevelop an understanding of debt and consumer credit
Total questions: 11
Worksheet time: 6mins
A credit card is non-revolving credit which allows the consumer to make purchases on credit.
True
false
Which of the following is non-revolving credit?
Car loans
Overdraft facilities on current account
Credit cards
None of the above
Credit is very important because it allows you to borrow money for expenses.
true
false
Why is credit dangerous
Can buy cars and houses
Debt and low rates
High rates and Debt
High Rates and no debt
The maximum amount you may borrow on a credit card is known as:
creditworthiness
credit report
credit limit
variable rate of credit
What is one advantage of having a credit card?
It prevents you from spending more than you earn.
It encourages you to budget your money wisely.
It helps you pay off debts that you may have.
It allows you to make purchases without carrying lots of cash.
I lend you money , Who am I?
I am a lender.
I am a borrower.
............ a debt that is baked by any collateral
Secured
Unsecured
Loan
............ a debt that is not guaranteed or baked by any collateral
Secured
Unsecured
Mortgage
............. is an example of secured loan
Personal loan
Visa card
Master cared
Mortgage
................ is an example of unsecured loan debt
Mortgage
Personal loan
Car loan
All the above
