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Question 10. If Jack uses a Visa card to purchase a new digital camera,
he would be using what type of credit?
Installment sales credit
Installment cash credit
Single lump sum credit
Revolving credit
Incidental credit
Question 11. One of the following financing methods typically
provides individuals with a float period. Which one of these methods
has this as an option?
Installment loan
A loan from a relative
Lump sum loan
Home equity line of credit
Credit card
Question 12. While collateralized loans may provide lower interest
rates, these loans have a disadvantage because
the loan must be repaid in a short period of time.