This quiz works best with JavaScript enabled. Home > Finance > Credit > Credit – Quiz 15 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Credit Quiz 15 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What were the earliest form of objects used as money in India A) Grains and cattle. B) Coins. C) Jewels. D) Land. Show Answer Correct Answer: A) Grains and cattle. 2. Which scores are nearly perfect credit? A) 620 and below. B) 801 and above. C) 621-690. D) 721-750. Show Answer Correct Answer: B) 801 and above. 3. Examples of penalty fees include: A) Over-the-limit fee. B) Late payment fee. C) Returned payment fee. D) All of these. Show Answer Correct Answer: D) All of these. 4. A person who is a good credit risk? A) Credit Report. B) Creditworthy. C) Character. D) Capactiy. Show Answer Correct Answer: B) Creditworthy. 5. Kasey is looking at possible options to pay for higher education. What type of credit is best suited for financing this program? A) Payday loan. B) Conventional loan. C) Student loan. D) None of above. Show Answer Correct Answer: C) Student loan. 6. Credit cards are examples of what type of credit A) Short term credit. B) Revolving credit. C) Installment credit. D) Limited credit. Show Answer Correct Answer: B) Revolving credit. 7. Which of the following actions would improve your credit score? A) Closing out old credit cards. B) Paying off your credit card bill. C) Using a large portion of your credit limit. D) Opening a new savings account. Show Answer Correct Answer: B) Paying off your credit card bill. 8. Fee charged when a credit card holder does not make the minimum monthly payment by the due date. A) Late Payment Fee. B) Penalty Fee. C) Returned Payment Fee. D) Schumer Box Fee. Show Answer Correct Answer: A) Late Payment Fee. 9. The ..... is the time during which you are allowed to pay your credit card vill without having to pay interest. A) Grace period. B) Finance charge. C) Loan forgiveness time. D) Acceleration clause. Show Answer Correct Answer: A) Grace period. 10. How much did the Bradley's spend on takeout(food) each day? A) $ 25. B) $ 50. C) $ 75. D) $ 100. Show Answer Correct Answer: D) $ 100. 11. An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment refers to A) Debt. B) Deposit. C) Credit. D) Collateral. Show Answer Correct Answer: C) Credit. 12. Which of the following is not one of the "Three C's" of credit? A) Character. B) Capacity. C) Consignment. D) Collateral. Show Answer Correct Answer: C) Consignment. 13. Money: A) Eliminates double-coincidence of wants. B) Acts as a common measure of value. C) Acts as a store of value. D) All the above. Show Answer Correct Answer: D) All the above. 14. In a SHG most of the decisions regarding loan activities are taken by A) Banks. B) Members. C) Non-government organisation. D) Cooperative. Show Answer Correct Answer: B) Members. 15. A yearly fee charged by some credit cards for use of the card. A) Interest. B) Late payment fee. C) Annual fee. D) None of above. Show Answer Correct Answer: C) Annual fee. 16. What is the best interest rate to get on a credit card? A) 1%. B) 5.6%. C) 30%. D) 0%. Show Answer Correct Answer: D) 0%. 17. The amount based on the percentage of the outstanding balance, or a minimum fixed amount A) Minimum monthly fee. B) Minimum monthly payment. C) Minimum monthly statement. D) Minimum monthly charge. Show Answer Correct Answer: B) Minimum monthly payment. 18. What can you buy or get with a good credit score? A) House. B) Car. C) Loan. D) All of the above. Show Answer Correct Answer: D) All of the above. 19. Which of the following examples does not fall under unorganised sector? A) A farmer irrigating his field. B) A daily wage labourer working for a contractor. C) A doctor in a hospital treating a patient. D) A handloom weaver working on a loom in her house. Show Answer Correct Answer: C) A doctor in a hospital treating a patient. 20. A FICO credit score falls between what range? A) 275-1200. B) 300-850. C) 375-850. D) 350-900. Show Answer Correct Answer: B) 300-850. ← PreviousNext →Related QuizzesFinance QuizzesCredit Quiz 1Credit Quiz 2Credit Quiz 3Credit Quiz 4Credit Quiz 5Credit Quiz 6Credit Quiz 7Credit Quiz 8Credit Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books