MCQ Questions
Q.1.
credit
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    Filing for bankruptcy can make it hard for a consumer to reestablish and obtain
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    The type of credit people are most likely to use during their lifetimes is a
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    A credit score between 500 and 600 means a consumer would most likely
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    In determining whether to issue a loan, banks are not allowed to ask about an applicant's
Q.2.
NOgetting money with special repayment terms
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    A similarity between mortgages and auto loans is that both
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    Which best describes a way people can use personal loans?
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    Which describes an example of using unsecured credit?
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    What is a benefit of obtaining a personal loan?
Q.3.
find it hard to get a loan
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    The type of credit people are most likely to use during their lifetimes is a
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    Which best describes a way people can use personal loans?
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    A similarity between mortgages and auto loans is that both
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    A credit score between 500 and 600 means a consumer would most likely
Q.4.
are less risky for lenders
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    A similarity between mortgages and auto loans is that both
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    Which describes an example of using unsecured credit?
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    A credit score between 500 and 600 means a consumer would most likely
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    Which best describes a way people can use personal loans?
Q.5.
credit card.
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    A credit score between 500 and 600 means a consumer would most likely
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    In determining whether to issue a loan, banks are not allowed to ask about an applicant's
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    Filing for bankruptcy can make it hard for a consumer to reestablish and obtain
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    The type of credit people are most likely to use during their lifetimes is a
Q.6.
country of origin.
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    In determining whether to issue a loan, banks are not allowed to ask about an applicant's
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    The type of credit people are most likely to use during their lifetimes is a
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    What is the compound interest on a three-year, $100.00 loan at a 10 percent annual interest rate?
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    Which best describes a way people can use personal loans?
Q.7.
mortgage.
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    Which best describes a way people can use personal loans?
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    The type of credit people are most likely to use during their lifetimes is a
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    An example of secured credit is a
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    What is a benefit of obtaining a personal loan?
Q.8.
$20 per year until the loan is paid off.
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    The simple interest on a loan of $200 at 10 percent interest per year is
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    What best determines whether a borrower's interest rate goes up or down?
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    The type of credit people are most likely to use during their lifetimes is a
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    A similarity between mortgages and auto loans is that both
Q.9.
income and total debt.
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    An example of secured credit is a
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    Simple interest is paid only on the .
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    A way to build good credit is
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    A credit score is based in part on
Q.10.
$33.10
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    Filing for bankruptcy can make it hard for a consumer to reestablish and obtain
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    What best determines whether a borrower's interest rate goes up or down?
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    What is the compound interest on a three-year, $100.00 loan at a 10 percent annual interest rate?
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    The type of credit people are most likely to use during their lifetimes is a
Q.11.
principal borrowed
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    A credit score is based in part on
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    A similarity between mortgages and auto loans is that both
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    Simple interest is paid only on the .
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    An example of secured credit is a
Q.12.
paying bills when they are due.
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    Simple interest is paid only on the .
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    A credit score is based in part on
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    What is a benefit of obtaining a personal loan?
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    A way to build good credit is
Q.13.
pay less interest in the long run.
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    Consumers who make higher payments on credit cards
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    A similarity between mortgages and auto loans is that both
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    What is a benefit of obtaining a personal loan?
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    People who want to buy a house typically ask the bank for a .... over a 10- to 30-year period.
Q.14.
Simple interest is paid on the principal, while compound interest is paid on the principal and interest accrued.
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    The simple interest on a loan of $200 at 10 percent interest per year is
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    Which describes the difference between simple and compound interest?
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    What best determines whether a borrower's interest rate goes up or down?
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    Which describes an example of using unsecured credit?
Q.15.
getting large amounts of money to use immediately
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    Which describes an example of using unsecured credit?
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    The simple interest on a loan of $200 at 10 percent interest per year is
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    What is a benefit of obtaining a personal loan?
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    What best determines whether a borrower's interest rate goes up or down?
Q.16.
he simple interest on a loan of $200 at 10 percent interest per year is
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    country of origin.
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    a credit card.
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    to pay for college
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    $20 per year
Q.17.
Filing for bankruptcy can make it hard for a consumer to reestablish and obtain
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    a credit card.
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    credit
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    Secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object.
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    $33.10
Q.18.
What is a benefit of obtaining a personal loan?
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    payment history and total debt.
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    require minimum payments
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    NOT getting money with special repayment terms
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    to pay for college
Q.19.
The type of credit people are most likely to use for small purchases during their lifetime is
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    country of origin.
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    a credit card.
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    credit
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    to pay for college
Q.20.
In determining whether to issue a loan, banks are not allowed to ask about an applicant's
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    to pay for college
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    a credit card.
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    credit
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    country of origin.
Q.21.
A credit score is based in part on
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    NOT getting money with special repayment terms
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    require minimum payments
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    payment history and total debt.
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    to pay for college
Q.22.
Which describes the difference between secured and unsecured credit?
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    credit
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    Secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object.
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    NOT getting money with special repayment terms
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    to pay for college
Q.23.
Simple interest is paid only on the _________ ________.
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    $20 per year until the loan is paid off.
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    to pay for college
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    Principal borrowed
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    country of origin.
Q.24.
Which describes the difference between simple and compound interest?Simple interest is paid on small, short-term loans, while compound interest is paid on large, long-term loans. Simple interest is paid on the principal, while compound interest is paid on the principal and interest accrued. Simple interest is paid on large, long-term loans, while compound interest is paid on small, short-term loans.Simple interest is paid on the principal and interest accrued, while compound interest is paid only on the principal.
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    (not) getting money with special repayment terms(not) getting money with favorable interest rates
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    Secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object.
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    Simple interest is paid on the principle, while compound interest is paid on the principal and interest accrued.
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    to pay for college
Q.25.
People who want to buy a house typically ask the bank for a ________ over a 10- to 30-year period.
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    mortgage.
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    a person with a credit score of 760 with a small amount of debt who has had steady employment for many years
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    Mortgage
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    pay less interest in the long run.