WISE - Credit Exam | Questions with 100% Correct
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is a loan that does not require collateral from the borrower
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1 unsecured loans 2 5 C's of credit
3 credit card companies 4 bankruptcy Chapter 7
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Terms in this set (65)
,5 C's of credit 5 C's of credit
auto finance companies financial organization that specializes in
automobile loans to consumers
balance owed the amount left over after subtracting, as, for
example, the amount owed on a loan (also called
principal balance) or the amount in an account
bank a financial institution that accepts deposits and
channels the money into lending activities
, bankruptcy Chapter 7 dealing with liquidation, provides for a court-
appointed interim trustee to make management
changes, arrange unsecured financing, and
generally operate the debtor business to prevent
loss.
bankruptcy Chapter 11 deals with reorganization of businesses, provides
that, unless the court rules otherwise, the debtor
remains in possession of the business and in
control of its operation
bankruptcy Chapter 13 deals with debt adjustment or reorganization for
individuals, allows people to put forward a plan to
repay creditors over time, usually from future
income
Answers | Verified | Latest Update 2026/2027
Save
Practice questions for this set
Learn 1 /7 Study using Learn
is a loan that does not require collateral from the borrower
Choose an answer
1 unsecured loans 2 5 C's of credit
3 credit card companies 4 bankruptcy Chapter 7
Don't know?
Terms in this set (65)
,5 C's of credit 5 C's of credit
auto finance companies financial organization that specializes in
automobile loans to consumers
balance owed the amount left over after subtracting, as, for
example, the amount owed on a loan (also called
principal balance) or the amount in an account
bank a financial institution that accepts deposits and
channels the money into lending activities
, bankruptcy Chapter 7 dealing with liquidation, provides for a court-
appointed interim trustee to make management
changes, arrange unsecured financing, and
generally operate the debtor business to prevent
loss.
bankruptcy Chapter 11 deals with reorganization of businesses, provides
that, unless the court rules otherwise, the debtor
remains in possession of the business and in
control of its operation
bankruptcy Chapter 13 deals with debt adjustment or reorganization for
individuals, allows people to put forward a plan to
repay creditors over time, usually from future
income
