Ch. 5 - Credit Review - Part 1
11th Grade
•16 Qs
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Ch. 5 - Credit Review - Part 1
Quiz
•
Business
•
11th Grade
•
Practice Problem
•
Medium
Deanna Armstrong
Used 12+ times
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16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your credit score can range from?
300-850
275-800
300-800
250-750
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a variable interest rate?
The interest rate on your loan does not change over the life of your loan.
Annual Interest Rate
Changes with the index interest rate.
What the lender charges for using credit, usually a percentage.
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
An example of Open-End/Revolving Credit is what? (2 correct answers)
A Personal Loan
A Cash Advance
HELOC
Credit Cards
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is an example of Closed-End Credit (2 correct answers)
Mortgage
Auto Loan
Credit Card
Cash Advance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the Schumer Box?
Monthly Statements for your credit card
HELOC on home loans
A business loan
Helps compare credit card fees and rates
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This loan can charge you up to 400% interest.
Secured Loans
Unsecured Loans
Personal Loans
Payday Loans
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What category impacts your credit score?
Job History
Monthly Loan Payment Amount
Lower Interest Rates
Credit Card Utilzaion
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