Review Game Zone
Games
Test
Preview
Back
Match it!
Match it! Select the correct answer from the pull down...Good luck!
Which of the following were the goals of TILA and the CARD Act?
Balance Carryover
Both were goals
True
It allows a borrower to use funds from a financial institution and repay them later
False
3
Open End
Rescission
A type of credit where the consumer is given a credit line and it can be used repeatedly until the maximum is reached.
Balance Carryover
Both were goals
True
It allows a borrower to use funds from a financial institution and repay them later
False
3
Open End
Rescission
A credit score can range from 0-800.
Balance Carryover
Both were goals
True
It allows a borrower to use funds from a financial institution and repay them later
False
3
Open End
Rescission
Voiding a contract is called.
Balance Carryover
Both were goals
True
It allows a borrower to use funds from a financial institution and repay them later
False
3
Open End
Rescission
With an ARM the payment can go up and down depending on rates.
Balance Carryover
Both were goals
True
It allows a borrower to use funds from a financial institution and repay them later
False
3
Open End
Rescission
The amount of borrowed money that has not been repaid from one payment period to the next.
Balance Carryover
Both were goals
True
It allows a borrower to use funds from a financial institution and repay them later
False
3
Open End
Rescission
What is the primary function of a credit card?
Balance Carryover
Both were goals
True
It allows a borrower to use funds from a financial institution and repay them later
False
3
Open End
Rescission
How many days did TILA’s right of rescission allow for the voiding of certain loans?
Balance Carryover
Both were goals
True
It allows a borrower to use funds from a financial institution and repay them later
False
3
Open End
Rescission
Check it!