2. To play click on circle Back to menu

3. 100 200 100 400 300 200 100 400 300 200 100 400 300 200 400 300 100 200 300 400 BankruptcyCredit Loans Potpourri Back to menu

4. 100 This is the most serious step for people with financial problems to take. Bankruptcy Click here for answer back

5. 200 What are two basic ways individuals can file for bankruptcy? back Click here for answer Chapter 7 and 13

6. 300 This kind of bankruptcy is for small businesses. back Click here for answer Chapter 13

7. 400 back Click here for answer Chapter 11 This kind of bankruptcy is used by businesses to continue operating while they reorganize and repay their restructured debts.

8. 100 Charge card accounts are examples of what type of credit? back Click here for answer Open-end Credit

9. 200 Almost everyone uses this. It involves providing a service for which you will pay later. back Click here for answer Service Credit

10. 300 According to this act, both the husband and wife can establish individual credit histories. back Click here for answer Equal Credit Opportunity Act

11. 400 What is the first step in starting to use credit? back Click here for answer Open a savings account

12. 100 What is the purpose of a credit bureau? back Click here for answer To gather, store, and sell credit information to other businesses.

13. 200 Unused credit can count against you when you ______________________. back Click here for answer Apply for a Loan

14. 300 What is an example of close-end credit? back Click here for answer Installment Purchase Agreement

15. 400 back Click here for answer Charge cards, revolving accounts, and Credit card agreements What is an example of open-end credit?

16. 100 What is principal? back Click here for answer The amount you borrow when you apply for a loan.

17. 200 One of the most common sources of cash loans is ? back Click here for answer Private Lenders

18. 300 In this type of loan, the borrower pledges property or assets to assure the creditor of payment. back Click here for answer Secured Loan

19. 400 back Click here for answer Consumer Finance Company A _________________ makes most of its loans to consumers who are buying durable goods.

20. 100 This legal process relieves debtors of the responsibility of paying their debts or protects them while they try to repay. back Click here for answer Bankruptcy

21. 200 This obligation remains after bankruptcy. back Click here for answer Student Loans

22. 300 This formula, I = P x R x T, is the simplest way to find ? back Click here for answer Interest

23. 400 back Click here for answer Usury Law This law sets a maximum interest rate that may be charged for consumer loans.