Credit and Loans

Question 1

A way to build good credit is

Revolt · Accepted Answer

paying bills when they are due.

Question 2

What is a benefit of obtaining a personal loan?

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getting money with special repayment terms

Question 3

A credit score is based in part on

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payment history and total debt.

Question 4

Which statement is true of both mortgages and auto loans?

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They are secured loans and generally require a down payment.

Question 5

For which buyer would a lender most likely approve a $200,000 mortgage?

Revolt · Accepted Answer

a person with a credit score of 760 with a small amount of debt who has had steady employment for many years

Question 6

The type of credit people are most likely to use for small purchases during their lifetime is

Revolt · Accepted Answer

a credit card.

Question 7

The chart shows a range of credit scores.

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find it hard to get a loan.

Question 8

Which describes an example of using unsecured credit?

Revolt · Accepted Answer

Someone buys new gutters for a home with a credit card.

Credit and Loans Answers