Alex - Borrowing money

What is Alex's age?

• 16

• 18

• 20

• 22

What does Alex dream of getting?

• Car

• Bicycle

• Motorcycle

• Scooter

What are the two types of loans mentioned in the text?

• Credit card loan and Student loan

• Installment loan and Flexible money reserve

• Personal loan and Mortgage loan (= for a house)

What does APR stand for?

• Accrued Profit Revenue

• A Personal Rate

• Average Payment Ratio

• Annual Percentage Rate

What should Alex do before using a credit contract?

• Set a budget and be sure he can repay the amount

• Sign the contract immediately

• Borrow more money

What is the best use of a flexible money reserve according to the text? Tick a second one that is also right.

• For large amounts and long periods

• For small amounts and very short periods

• For emergency situations only

• For luxury purchases

What should Alex do if he can no longer repay the borrowed amount?

• Keep borrowing more money

• Wait for a discount

• Contact the lender or a debt mediator

• Ignore the situation

What is the consequence of not paying for three months according to the text?

• Alex gets a warning

• Alex gets a discount

• Alex gets a refund

• Alex is put on a list of bad payers

What should Alex do before buying his scooter?

• Think carefully and plan ahead

• Wait for a sale

• Buy it impulsively

• Borrow more money