An Interesting Quiz On Credit And Loans

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| By Tanya Mishra
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Tanya Mishra
Community Contributor
Quizzes Created: 606 | Total Attempts: 1,686,089
| Attempts: 205
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  • 1/10 Questions

    What do you mean by a floating charge? 

    • A charge on the shares of a company
    • A change that is changing
    • A charge on the current assets of the company that are constantly changing
    • None of the above
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About This Quiz

We welcome you to this fun Financial literacy credit and loans MCQ Quiz. Being financially literate can have many implications. Being aware of credit and loans can be of utmost importance in the financial world. After all, they keep track of the ebb and flow of the money. Do you know well enough about the topic? If you know enough, we highly encourage you to take the quiz and test your knowledge! We hope that you get the opportunity to enhance your knowledge by playing this quiz! All the best!

An Interesting Quiz On Credit And Loans - Quiz

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  • 2. 

    Which of the following is an example of the informal loan sector? 

    • Bank

    • Cooperatives

    • Money lenders

    • All of the above

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  • 3. 

    Which of the following is amongst the terms of credit? 

    • Collateral 

    • Interest rate 

    • Required documents

    • All of the above

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  • 4. 

    The loan that becomes repayable by the bank's demand is known as what? 

    • Demand Loan

    • Continuous Loan

    • Credit loan

    • None of the above

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  • 5. 

    In the case of a pledge, the possession of security is usually with whom?

    • The third party

    • The creditor

    • The debtor

    • None of the above

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  • 6. 

    Commercial banks can only provide the credit only to which of the following?

    • Government

    • Private businessman

    • Trade, Agriculture and Industry

    • None of the above

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  • 7. 

    Which of the following is NOT a type of short-term, spontaneous credit?

    • Accrued taxes

    • Trade credit

    • Commercial paper

    • Accrued wages.

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  • 8. 

    Which of the following is the weakest method of charging security?

    • Hypothecation

    • Mortgage

    • A Pledge

    • None of the above

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  • 9. 

    A lien on specifically identified personal property that backs a loan is referred to as what?

    • Floating lien

    • Chattel mortgage

    • Trust receipt

    • Terminal warehouse receipt

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  • 10. 

    Which of the following is the short-term interest rate charged by banks to its creditworthy customers?

    • Long-term bond rate.

    • Fed funds rate

    • Prime rate

    • Discount basis interest rate

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Quiz Review Timeline (Updated): Aug 16, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Aug 16, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Nov 14, 2022
    Quiz Created by
    Tanya Mishra
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