Credit Multiple Choice Test

When a person brings an item to a pawnshop to obtain cash, the transaction is considered

To qualify for a Federal Housing Administration (FHA) loan, a person must generally

When a person declares bankruptcy that will appear on the person's credit report

Which of the following is considered to be open-end credit?

A person has 3 credit cards with very large outstanding balances and is unable to make payments on any of them. Which action should the person take?

What is meant by uncollateralized loan?

When a borrower fails to repay a loan and there is a co-signer on the loan, the most likely result will be

You can continue to charge purchases on your credit card when:

Judy and Phil had a joint VISA credit card while they were married. They are now divorced. Who is responsible for the balance owed on the VISA card?

Which factor would most likely lead to an increase in the interest rate on a person's credit card?

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