Debit Cards & Credit Cards

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36. Which type of card is typically not accepted outside of the country?

a) Debit card

b) Prepaid card

c) Credit card

d) ATM card

Answer: a) Debit card
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37. What is the maximum credit limit on a credit card?

a) It varies depending on the creditworthiness of the cardholder

b) $10,000

c) $100,000

d) There is no maximum limit on credit cards

Answer: a) It varies depending on the creditworthiness of the cardholder
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38. Which of the following is a disadvantage of using a debit card?

a) Easy access to cash at ATMs

b) No risk of overspending or accumulating debt

c) Limited fraud protection

d) Building credit history

Answer: c) Limited fraud protection
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39. What is a cash advance on a credit card?

a) Withdrawing cash from an ATM

b) Using the card to pay for goods or services

c) Borrowing money against the credit line

d) Applying for a higher credit limit

Answer: c) Borrowing money against the credit line
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40. A credit card’s billing cycle refers to:

a) The time allowed to return a purchase

b) The period during which purchases are accumulated and a statement is generated

c) The time to dispute a billing error

d) The promotional offers and discounts available for cardholders

Answer: b) The period during which purchases are accumulated and a statement is generated
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