Types of Credit
Authored by Tina Zuniga
Financial Education
12th Grade
Used 14+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of loan is meant to cover medical expenses?
Personal Loan
Auto Loan
Student Loan
Medical Loan
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of overdraft protection?
Preventing declined transactions
Increasing credit limit
Avoiding interest fees
Investing in stocks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of a credit card?
Paying off debt
Investing in stocks
Saving money
Borrowing money for purchases
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a cash advance?
Paying off debt
Withdrawing cash using a credit card
Starting a business
Investing in real estate
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of loan has a large final payment at the end?
Student Loan
Balloon Loan
Auto Loan
Mortgage
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of loan is used for covering emergencies until the next paycheck?
Personal Loan
Auto Loan
Payday Loan
Student Loan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of loan has fixed payments over time?
Personal Loan
Auto Loan
Installment Loan
Student Loan
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