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Argylls8EC Test

Enter the letter for the matching Definition
incorrect
1.
Cosigning
incorrect
2.
Consumer credit
incorrect
3.
Debit cards are mostly used at...
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4.
Closed-end credit
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5.
Line of credit
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6.
Annual Percentage Rate (APR)
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7.
What can misused credit lead to?
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8.
A variable interest rate is based on...
incorrect
9.
A disadvantage of credit
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10.
An advantage of credit
A.
The cost of credit on a yearly basis.
B.
Bankruptcy or loss of creditworthiness.
C.
Changing rates in the banking system.
D.
The use of credit for personal needs.
E.
Gives time to pay for the good or service.
F.
The maximum amount of money a creditor will allow to be borrowed by a credit user.
G.
Automated Teller Machines (ATM's).
H.
A loan that means you agree to be responsible for the loan payments if the other person fails them.
I.
A one time loan payed over a specified period of time.
J.
Temptation to spend too much.
Type the Definition that corresponds to the displayed Term.
incorrect
11.
Net income
incorrect
12.
True or false: a credit card is the same as a debit card
Type the Term that corresponds to the displayed Definition.
incorrect
13.
The total
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14.
A lender of money.
incorrect
15.
A time period with no financial charges added to your account to pay a debt.
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16.
A loan within a certain limit you can borrow for purchases.
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17.
Interest computed only on the principal.
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18.
A measure of a person's ability to make credit payments on time.
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19.
Form of security to help guarantee the creditor will be repaid..
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20.
An arrangement to receive cash, goods, or services now and pay in the future.

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