Credit Options
Understanding Credit Options
Test your knowledge about credit options and financial responsibilities with this engaging quiz! Learn about money lenders, loans, credit cards, and the importance of good financial practices.
Whether you're looking to consolidate debt or simply want to expand your understanding of financial choices, this quiz is for you!
- 8 informative questions
- Multiple choice, drop list, and checkbox formats
- Easy to follow and learn
Money lenders are a good option if a person
Has already got a big debt
Has a good job
Is unemployed
Has a poor credit rating
A person who agrees to pay the debt if the borrower is unable to do so is known as a
Putting different loans into one loan to simplify repayments is called
Interest
Consolidation
Credit options
Consideration
Each person who gets into a credit card must get something of value. This is called
A person can get a loan from a money lender even if they are unemployed and have a bad credit history
True
False
One of the advantages of credit cards is
They are easy to use
Have low interest rates
Can not be used fraudulently
They do not require credit checks
Personal loans can be used to
Consolidate debt
Collect airpoints or flybuys
Purchase goods and services online
Protect damaged or lost goods and services
Due to the high interest rates and penalty fees charged by some money lenders, they are known as
Loan Dinosaurs
Guarantors
Loan Sharks
Consolidators
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