10
QuizMultiple Choice

Mortgages and Home Ownership — Unit test

Question 10 • Financial Literacy (WMHS) - Semester 1

Which describes the difference between a personal loan and a credit card?

Answer
A
Credit cards offer lump sums of money, while personal loans set a maximum amount a person can borrow.
B
Credit cards are secured loans for large amounts, while personal loans are unsecured for small purchases.
C
Personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow.
D
Personal loans are secured for small purchases, while credit cards are unsecured loans for large amounts.
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