37
practice examMultiple Choice

Practice Exam

Question 37 • Personal Finance

Which are considered types of credit available to borrowers? Choose four correct answers.

Answer
A
credit cards
B
cash
C
gift cards
D
bonds
E
mortgages
F
personal loans
G
auto loans

Explanation

Credit lets a borrower obtain money or make a purchase now and repay later. Personal loans, credit cards, mortgages, and auto loans are common forms of credit available to borrowers. Cash and gift cards are not borrowed credit, and bonds are generally a way for organizations or governments to borrow from investors, not a typical consumer credit option.

AI-written and checked against the verified answer.

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