BUSN 380 study Great Stories/busn380study.com BUSN 380 study Great Stories/busn380study.com | Page 49

Revolving credit
Installment cash credit
Question 11. Question : (TCO 3) As used in Chapter 7 of the text, float
refers to
an interest charged for only a few days.
something one enjoys in a parade.
a home equity loan.
a period when no interest is charged.
a lump-sum loan from a credit union.
Question 12. Question : (TCO 3) Usually, medium-priced loans can be
obtained from
parents or family members.
commercial banks and credit unions.
the Diners Club.
finance companies.
American Express.
Question 13. Question : (TCO 3) What is the top reason why
consumers default on their debts?
Medical expenses