an example of open-end credit is a(n) ____

Which of the following is an example of open-end credit. A department store credit card.

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Open-end credit is A.

. Installment loan from a furniture storeE. An open credit is a financial arrangement between a lender and a borrower that allows the latter to access credit repeatedly up to a specific maximum limit. A mortgage loan d.

An automobile loan b. E installment loan for purchasing a major appliance. Open-end loans are also sometimes referred to as revolving credit.

B the mortgage loan from a savings and loan institution. The use of a bank credit card to make a purchase. E installment loan for purchasing a major appliance.

A ____ of credit is an example of an open-end credit. A credit card that requires you to maintain funds in a savings account from which the credit card bank will take money if you fail to pay your card balance. Week 2 Quiz Which of the following is an example of open-end credit.

The mortgage loan from a savings and loan institution. With some forms of open-end credit theres no end date. Molly purchased a 1500 dishwasher from Best Appliances.

An open-end mortgage is a type of home loan in which the total amount of the loan is not advanced all at once but rather used for future home-related improvements as needed. A fixed rate mortgage d. Credit cards are the most common form of open-end credit.

A department store credit card c. A the use of a bank credit card to make a purchase. D installment loan from a furniture store.

A mortgage loan d. An example of this would be a cellphone bill you can make phone calls. For example with a credit card you can repay your balance and reborrow as long as the card issuer allows you to continue using the credit product.

Credit enables people to purchase goods or services using borrowed money. An amount of time during which a loan can be repaid without interest. C automobile loan from a credit union.

View Test Prep - Open End Credit examples from MATH 140 at Colorado Technical University. Essentially if the card issuer remains in business and the account remains in good standing your open-end credit could be. An open-end loan also sometimes referred to as open-end credit is a form of borrowing that can be used up to a certain limit before it must be repaid.

A secured credit card True or False. In connection with credit secured by the consumers dwelling that does not meet the definition in section 2262a20 a creditor shall not structure a home-secured loan as an open-end plan to evade the requirements of section 22632. Finance questions and answers.

A credit card b. She will make 12 equal payments over the next year to pay for it. B Prohibited acts or practices for dwelling-secured loans.

To better understand open-end credit it helps to know what closed-end credit means. B the mortgage loan from a savings and loan institution. The mortgage loan from a savings and loan institutionC.

D installment loan from a furniture store. A loan given for a short period of time that is not dependent on credit history. The borrower is able to withdraw indefinitely until the limit is met.

It enables the cardholder to make basic transaction at the point of sale. Open-end mortgages can provide flexibility but limit you to what you were. Credit cards refer to a card issued by a financial institution which allows a cardholder to borrow money against a line of credit.

Installment loan for purchasing a major appliance. With a closed-end loan you borrow a specific amount of money for a. Installment loan for purchasing a major appliance.

An FHA mortgage b. Closed-end credit includes debt instruments that are acquired for a particular purpose and a set amount of time. An example of open-end credit is aautomobile loans binstallment sales credit cmortgage loans drevolving check credit 11.

A credit card is an example of closed-end credit. Pledged to a company as security for a loan repayment. In the consumer market home equity loans are an example of an open-end credit which allows homeowners to access funds based on the level of equity in the homes.

Which of the following is an example of a conventional mortgage. The use of a bank credit card to make a purchase. A department store credit card c.

AAn automobile loan BA department store credit card CAn installment loan for purchasing furniture DA mortgage loan ESingle lump-sum credit. An agreement with an institution on a certain amount that can be repeatedly borrowed. A good example of an open-end credit isA.

C automobile loan from a credit union. A buy down c. Automobile loan from a credit union.

A good example of an open-end credit is A. Open End Credit This is a type of credit loan paid on installments in which the total amount borrowed may. Installment loan from a furniture store.

A good example of an open-end credit is A the use of a bank credit card to make a purchase. Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back prior to payments coming due. A direct loan for personal purposes home improvements or vacation expenses is called.

Open-end mortgages combine the benefits of a traditional mortgage and a HELOC. A direct loan for personal purposes home improvements or vacation expenses is called a. A good example of an open-end credit is A the use of a bank credit card to make a purchase.

An automobile loan b. Which of the following is an example of open-end credit. In contrast to more traditional loans which are given.

Similar to a credit card limit but you are required to pay the funds borrowed in full at the end of each period. The 3 main types of credit are revolving credit installment and open credit. Automobile loan from a credit union.

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