16. A credit card with a grace period:
a) Doesn’t charge interest on purchases if the balance is paid in full by the due date
b) Offers rewards and cashback programs
c) Requires a security deposit
d) Has a higher credit limit than other cards
17. Which type of card can be easily obtained without a credit check?
a) Debit card
b) Prepaid card
c) Credit card
d) ATM card
18. What is the maximum liability for fraudulent credit card transactions according to federal law?
a) $0
b) $50
c) $100
d) $500
19. Which of the following is an advantage of using a credit card for online purchases?
a) No risk of identity theft
b) Instant approval for all purchases
c) Better protection against fraud
d) Lower transaction fees
20. Which of the following is NOT a common fee associated with credit cards?
a) Annual fee
b) Balance transfer fee
c) Transaction fee for foreign currency
d) Account closing fee
