Ch. 13 Exam - Consumer Finances

Ch. 13 Exam - Consumer Finances

34 Qs

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Ch. 13 Exam - Consumer Finances

Ch. 13 Exam - Consumer Finances

Assessment

Quiz

others

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Created by

Paul Arrington

Used 1+ times

FREE Resource

34 questions

Show all answers

1.

OPEN ENDED QUESTION

30 sec • Ungraded

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Evaluate responses using AI:

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2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Credit is the privilege of using someone else’s money for a period of time
True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Most popular form of credit; you may charge purchases at any time but only part of the debt must be paid each month
Regular accounts
Budget accounts
Revolving accounts
None of the above

4.

MULTIPLE SELECT QUESTION

30 sec • 2 pts

Requires that a customer make payments of a fixed amount over several months
Regular accounts
Budget accounts
Revolving accounts
None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Requires the buyer to make full payment within a stated period – usually 25 to 30 days.
Regular accounts
Budget accounts
Revolving accounts
None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Finance charges are the total dollar cost of credit, including interest and all other charges.
True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Bank Credit Cards such as American Express require a yearly membership fee usually higher than the fee charge cards
True
False

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