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Quiz

Quiz. Round 1, Question 1. Give an example of a Commercial bank. Round 1, Question 2. Where can a person borrow? *Please note you cannot say bank!. Round 1, Question 3. Give an example of a short term loan. Round 1, Question 4. How long can a “Term Loan” be taking out for?.

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Quiz

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  1. Quiz

  2. Round 1, Question 1 • Give an example of a Commercial bank

  3. Round 1, Question 2 • Where can a person borrow? *Please note you cannot say bank!

  4. Round 1, Question 3 • Give an example of a short term loan

  5. Round 1, Question 4 • How long can a “Term Loan” be taking out for?

  6. Round 1, Question 5 • Give one example of a Long Term Loan.

  7. Round 2, Question 1 • What is the name given to people who have joined a Credit Union?

  8. Round 2, Question 2 • Where can a person get a loan if a financial intuition will not provide one?

  9. Round 2, Question 3 • Which financial intuition gives the lowest interest on a loan?

  10. Round 2, Question 4 • What is the name of the form a person must fill in when looking to take out a loan?

  11. Round 2, Question 5 • The interest stays the same year on year. • What type of Interest is this?

  12. Round 3, Question 1 • True or False • A borrower must be told how much interest they will be charged/paid?

  13. Round 3, Question 2 • True or False • Borrowers do not have to be told how much the end cost will be? (Cost of loan + Interest)

  14. Round 3, Question 3 • True or False • A borrower doesn't have to be told if they must pay a deposit or a final payment at the end of a loan.

  15. Round 3, Question 4 • True or False • The borrower must make sure they fully pay back the loan

  16. Round 3, Question 5 • True or False • APR stand for Annual Profit Rate

  17. Round 4, Question 1 • The quote for Credit Purchase is what? • Buy Now Pay Soon • Buy Now Pay Tomorrow • Buy Now Pay Never • Buy Now Pay Later • Buy Now Pay Late

  18. Round 4, Question 2 • I'm like renting but you will end up owning the good. What am I?

  19. Round 4, Question 3 • A fee paid for insurance is what?

  20. Round 4, Question 4 • A Proposal form is what?

  21. Round 4, Question 5 • Salary Protection Insurance is what type of Insurance?

  22. Time to correct!!

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