15
QuizMultiple Choice

Understanding College Savings — Unit test

Question 15 • SHS Lifetime Fitness - 2021

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.