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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What is a loan?
Which type of loan is used to pay for personal expenses for you and your family?
What does it mean for a loan to have collateral?
A loan for which of the following is not likely to have collateral?
What is the purpose of a credit report?
Why is it important to maintain good credit?
What are examples of the costs to borrow money?
Which of the following are the least expensive loan options to pay for purchases at a department store?