Credit
2 years ago
jshipton
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15 QuestionsShow answers
  • Question 1
    30 seconds
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    Q. Which of the 3 C's of credit is your ability to repay the loan?
    answer choices
    Character
    Capacity
    Collateral
    Capital
  • Question 2
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    Q. Anyone one can borrow money from a life insurance company.
    answer choices
    True
    False
  • Question 3
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    Q. A single-payment loan will still involve paying interest on the loan.
    answer choices
    True
    False
  • Question 4
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    Q. An unsecured loan is backed by collateral.
    answer choices
    True
    False
  • Question 5
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    Q. What must you have in order to get a home equity loan?
    answer choices
    Car
    House
    College Education
    A dog
  • Question 6
    30 seconds
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    Q. What makes up the largest part of your credit score?
    answer choices
    Length of credit history
    Income
    How well you pay off your bills
    Types of credit you use
  • Question 7
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    Q. If you file bankruptcy how long will it stay on your credit record?
    answer choices
    2 years
    5 years
    7 years
    10 years
  • Question 8
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    Q. The first loan you get is not very important to your credit score.
    answer choices
    True 
    False
  • Question 9
    30 seconds
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    Q. What is term for the person who will sign a loan document with you to help you obtain credit?
    answer choices
    Capital
    Nice Person
    Cosigner
    Equitor
  • Question 10
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    Q. Which loan type is more common?
    answer choices
    Single Payment
    Installment
    No payment
    Character
  • Question 11
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    Q. Student loan debt can always be forgiven or erased if you can't pay it back.
    answer choices
    True
    False
  • Question 12
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    Q.

    A simple definition of credit could be stated as...

    answer choices

    Buy now, pay now

    Buy later, pay later

    Buy later, pay now

    Buy now, pay later

  • Question 13
    30 seconds
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    Q.

    A creditor is a person who owes you money.

    answer choices

    True

    False

  • Question 14
    30 seconds
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    Q.

    What is unique about an unsecured loan?

    answer choices

    Require no collateral

    Require collateral

    Interest free

    Don't affect your credit score

  • Question 15
    30 seconds
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    Q.

    What is the best interest rate to get on a credit card?

    answer choices

    1%

    5.6%

    30%

    0%

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