Loans and Credit Basics Quiz

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Loans and Credit Basics: a General level Bank Exam Prep quiz. Test your knowledge with 12 questions!
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Questions

Question 1
Which loan type is typically secured by a house?
A Personal loan
B Auto loan
C Student loan
D Mortgage
Question 2
What is a personal loan usually used for?
A Government projects
B Business inventory
C Buying a home
D General expenses or debt consolidation
Question 3
Which loan is usually 'unsecured'?
A Auto loan
B Personal loan
C Mortgage
D Home equity loan
Question 4
What is interest on a loan?
A The cost of borrowing money
B The insurance premium
C The principal amount
D A late fee
Question 5
What is collateral?
A A bank fee
B An asset used to secure a loan
C The loan application form
D The interest rate

📋 This quiz has 12 questions in total.

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