6 Questions
Which of the following best describes revolving credit?
An agreement that allows an account holder to borrow money repeatedly up to a set limit while repaying in installments.
What is the key feature of revolving credit?
Borrowing money repeatedly up to a set limit.
How does revolving credit work?
Borrowing money repeatedly up to a set limit and repaying in installments.
Which of the following statements best describes revolving credit?
Revolving credit allows an account holder to borrow money repeatedly up to a set limit and repay it in installments.
What is the main benefit of revolving credit?
Access to funds whenever needed.
Which of the following is an example of revolving credit?
A credit card with a $5,000 limit that can be used for multiple purchases.
Test your knowledge on revolving credit with this informative quiz! Learn what revolving credit is, how it works, and explore real-life examples to deepen your understanding of this financial concept. https://www.investopedia.com/ask/answers/110614/what-are-differences-between-revolving-credit-and-installment-credit.asp
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
