POB 5.01 B Question Preview (ID: 9731)
POB 5.01 B.
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Walden Book Store obtained information about Ann's reputation for paying her bills.Which factor examined by creditors did the store receive?
a) Credit application
b) Credit report
c) Receipts
d) Statement of account
A Sears Department Store sales associate gave a customer a form to complete to apply for a credit card. Which factor examined by creditors did the customer receive?
a) Credit application
b) Credit bureau credit report
c) Documentation of credit data
d) Three C's of credit
Which is an example of a service provided by a credit bureau?
a) Credit counseling for customers
b) Credit reports to other businesses
c) Statement of accounts to customers
d) Credit applications to applicants
Josh maintained minimum living expenses while working on his job for the past six years. Which "C" of credit is he MOST LIKELY to meet?
a) Capacity
b) Capital
c) Character
d) Contract
Jenny has the option of borrowing $300 at a 3% interest rate. Which loan option would cost her the most money?
a) Option 1: loan for 2 months
b) Option 2: loan for 3 months
c) Option 3: loan for 6 months
d) Option 4: loan for 1 year
What is the interest amount for the following loan: $10,000 car loan for 5 years at 8% interest rate?
a) $400
b) $3000
c) $4000
d) $5000
A bank loaned Doug $4,500 for 24 months. Which type of credit did he accept?
a) Charge account
b) Consumer loan
c) Credit card
d) Installment credit
Tonya is considering shopping at a Rooms To Go furniture store that advertises the option of payments for a period of three years. Which type of payment option was advertised?
a) Charge account
b) Consumer loan
c) Credit card
d) Installment credit
While shopping among several stores, Tina charged over $700 worth of home improvement supplies. Which type of credit did Tina use?
a) Charge account
b) Consumer loan
c) Credit card
d) Installment credit
Jenny charged $300 worth of gifts while shopping at several stores. Which type of credit did Jenny use?
a) Charge account
b) Consumer loan
c) Credit card
d) Installment credit
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