This is a form of borrowing were you draw more money than the account holds. It is very flexible once a limit is achieved.
Borrowing

Quiz
•
Other
•
12th Grade
•
Hard
Lois Slater
Used 15+ times
FREE Resource
12 questions
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1.
FILL IN THE BLANK QUESTION
20 sec • 1 pt
2.
FILL IN THE BLANK QUESTION
20 sec • 1 pt
This form of borrowing is very useful to borrow large amounts of money, eg for home improvements. You will have a schedule to pay the money back.
3.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
Which of these forms of borrowing is usually used to buy property.
Personal Loan
Mortgage
Payday Loan
Credit card
4.
FILL IN THE BLANK QUESTION
20 sec • 1 pt
This type of borrowing is often used for small, emergency amounts, such as a boiler breaking. The money is usually paid back the next pay day.
5.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
A major problem of payday loans is that there are high levels of what?
Money
Interest charged
Breaks on paying the money back
6.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
What are the problems of an overdraft?
You can borrow large amounts.
Very high levels of interest and charges.
The money is not available right away, even when agreed with the bank.
You can not easily get access to the money.
7.
FILL IN THE BLANK QUESTION
20 sec • 1 pt
Credit cards are a method were you can delay p............. for goods and services. You have to pay back the money with interest.
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