20
QuizMultiple Choice

Managing Credit and Debit — Test

Question 20 • Personal Finance

What is easy-access credit?

Answer
A
credit that is to be repaid in full by a specific date
B
an amount of time during which a loan can be repaid without interest
C
the amount of money borrowed excluding accrued interest
D
a loan given for a short period of time that is not dependent on credit history

Explanation

Easy-access credit is short-term borrowing that is available without relying on the borrower’s credit history. This matches choice D, “a loan given for a short period of time that is not dependent on credit history.” The other choices describe repayment terms, an interest-free period, or the principal amount of a loan.

AI-written and checked against the verified answer.

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