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Title Pawns

Authored by John Robinson

Social Studies

11th Grade

Title Pawns
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25 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a title pawn?

A loan secured by a vehicle title

A type of insurance policy

A real estate investment

A stock market term

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is typically required to obtain a title pawn?

Proof of income

A vehicle title

A credit score check

A co-signer

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the primary risk of taking a title pawn?

Losing your vehicle

Increasing your credit score

Gaining equity in your home

Reducing your debt

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How does a title pawn differ from a traditional bank loan?

It requires collateral

It has a longer repayment period

It offers lower interest rates

It is only available to businesses

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the typical interest rate range for title pawns?

10-15%

25-50%

5-10%

1-5%

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a common use for funds obtained from a title pawn?

Paying off high-interest credit card debt

Investing in the stock market

Purchasing a new vehicle

Funding a vacation

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a potential benefit of a title pawn?

Quick access to cash

Improved credit score

Long-term financial stability

Low interest rates

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