Answers OK-Personal Financial Literacy S1 – EDGNTY-83861 26-27 How Credit WorksQuestion 1

1

QuizMultiple Choice

How Credit Works

Question 1 • OK-Personal Financial Literacy S1 – EDGNTY-83861 26-27

How is a merchant credit card different from a title loan?

Answer

A

A merchant credit card is a secured loan, while a title loan is unsecured.

B

A merchant credit card does not have a fixed interest, while a title loan does.

C

A merchant credit card is an unsecured loan, while a title loan is a secured loan.

D

A merchant credit card requires no payment, while a title loan requires a payment.

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