Borrowing Pre-Test
Test your knowledge about borrowing and loans before you go through the course. The questions may have more than one right answer, and select all that apply. This is not a graded assignment, but it is still an important learning tool.
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Question 1 of 8
1. Question
What is a loan?
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Question 2 of 8
2. Question
Which type of loan is used to pay for personal expenses for you and your family?
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Question 3 of 8
3. Question
What does it mean for a loan to have collateral?
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Question 4 of 8
4. Question
A loan for which of the following is not likely to have collateral?
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Question 5 of 8
5. Question
What is the purpose of a credit report?
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Question 6 of 8
6. Question
Why is it important to maintain good credit?
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Question 7 of 8
7. Question
What are examples of the costs to borrow money?
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Question 8 of 8
8. Question
Which of the following are the least expensive loan options to pay for purchases at a department store?
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