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- 1. Multiple ChoiceWhich of the 3 C's of credit is your ability to repay the loan?CharacterCapacityCollateralCapital
- 2. Multiple ChoiceAnyone one can borrow money from a life insurance company.TrueFalse
- 3. Multiple ChoiceA single-payment loan will still involve paying interest on the loan.TrueFalse
- 4. Multiple ChoiceAn unsecured loan is backed by collateral.TrueFalse
- 5. Multiple ChoiceWhat must you have in order to get a home equity loan?CarHouseCollege EducationA dog
- 6. Multiple ChoiceWhat makes up the largest part of your credit score?Length of credit historyIncomeHow well you pay off your billsTypes of credit you use
- 7. Multiple ChoiceIf you file bankruptcy how long will it stay on your credit record?2 years5 years7 years10 years
- 8. Multiple ChoiceThe first loan you get is not very important to your credit score.TrueFalse
- 9. Multiple ChoiceWhat is term for the person who will sign a loan document with you to help you obtain credit?CapitalNice PersonCosignerEquitor
- 10. Multiple ChoiceWhich loan type is more common?Single PaymentInstallmentNo paymentCharacter
- 11. Multiple ChoiceStudent loan debt can always be forgiven or erased if you can't pay it back.TrueFalse
- 12. Multiple Choice
A simple definition of credit could be stated as...
Buy now, pay now
Buy later, pay later
Buy later, pay now
Buy now, pay later
- 13. Multiple Choice
A creditor is a person who owes you money.
True
False
- 14. Multiple Choice
What is unique about an unsecured loan?
Require no collateral
Require collateral
Interest free
Don't affect your credit score
- 15. Multiple Choice
What is the best interest rate to get on a credit card?
1%
5.6%
30%
0%
- Answer choicesTagsAnswer choicesTags