WorksheetsHow Consumer Credit Became Mainstream
Total questions: 15
Worksheet time: 15mins
What years was this presentation covering
1901-1950
1920-1940
1920-1950
1925-1955
The basis of our modern consumer credit landscape was formed with what 3
installment credit, long term mortgages, & closed credit
Installment credit, short term mortgages, & revolving credit
Credit, Mortgages, & no Credit
Installment credit, long term mortgages, & revolving credit
Love it or hate it, consumer credit is the back bone of modern living.
True
False
A hundred years ago if you weren't weathly you had to barrow money from family, neighbors, or ?
(a)
In 1901 the interest rate on a loan from a private lender could rage from
25%-60%
45%-200%
55%-360%
60%-480%
In 1915 you could buy a car on CREDIT for an average of $2,000 (today $53,000)
True
False
In 1919 which was the better car option to purchase
Option 1: Ford's weekly Payment Plan?
Option 2: GMAC installment credit plan?
What was supposed to replace the need for Loan Sharks when people had an emergency or needed money
Installment Credit
Personal Credit
Predatory Loans
Nothing replaced Loan Sharks
In 1933 the housing market was collapsing, what government agency was created to combat this?
BPA
FDR
HOA
FHA
What does FHA stand for?
Finders, Helpers, Association
Flanders, Hinders, All
Federal Housing Administration
Federal, Housing, Association
The FHA created two programs what were they?
Title 1 Mortgages
Title 2 Loans
Title 1 Loans
Title 2 Mortgages
Title 1 Schools
Title 2 Waves
Title this whatever you want
Title that whatever you will
What altered the shopping experience before, during, and after the Korean War?
Revolvers
Revolving Credit
Revolving Stings
Rovers on the Moon
What new technologies helped retailer manage hybrid credit accounts?
The Changing Station, & memos
The address of customers, & the War
The Charga-Plate and phonebook
The Charga-Plate, & Addressograph
Installment Credit was used to purchase what?
Homes
Cars
Clothes
Food
Revolving Credit was used to purchase what?
Cars, refrigerator's, radios
Everything else
I don't remember what Revolving Credit is.
