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Consumer credit

Authored by Anna Fadl

Other

1st - 3rd Grade

Used 13+ times

Consumer credit
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5 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A bank that is looking at your past payment records on your loans is most likely examining which aspect of the 5 Cs of lending?

character

capacity

collateral

capital

conditions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A loan officer is examining your income and the amount of your existing debt payments in deciding whether to make a loan to you today. Which aspect of the 5 Cs of lending is the loan officer most likely looking at?

character

capacity

capital

collateral

conditions

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

These are examples of closed-end credit:

Mortgage loans

Department store cards

Automobile loans

Installment loans

Visa credit cards

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Larry Arnold gets a direct loan of money to go on vacation with his family. He will repay the loan over the next twelve months. What type of credit did Larry use?

installment sales credit

installment cash credit

single lump sum credit

revolving credit

incidental credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The debt payments-to-income ratio is:

calculated by dividing total liabilities by net worth.

calculated by dividing monthly debt payments (not including house payments) by net monthly income.

determined by dividing your assets by your liabilities.

a useless ratio for determining your credit capacity.

rarely used by creditors in determining credit worthiness.

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