Chapter 16 - 21 Test A

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Record my email address with my response

Which would be considered a better credit score to have? *

1 point

800

300

Finance companies charge higher rates of interest on loans because they take more risk. *

1 point

True

False

Name 1 place that you can get a credit card? *

1 point

What is a "loss leader" as used by stores? *

1 point

How many years does a bankruptcy stay on your credit record? *

1 point

4 years

6 years

10 years

The amount of credit above what you owe is called?

1 point

deferred payment

unused credit

interest

rule of 72

Clear selection

Unused credit will not count against you, so get all the credit cards you want. *

1 point

True

False

Credit cards have a grace period, if you pay off the balance, no interest will be charged to you. *

1 point

True

False

Your friends, relatives and co-workers influence your buying decisions. *

1 point

True

False

One who only purchases lost leader items is a cherry picker. *

1 point

True

False

The higher your credit score is, the greater the risk you are for a loan. *

1 point

True

False

The primary goal of advertising is to create in the consumer the desire to purchase a product. *

1 point

True

False

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