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Exam (elaborations)

Unit Activity- Using Consumer Credit Exam Questions and Complete Solutions

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Unit Activity- Using Consumer Credit Exam Questions and Complete Solutions

Institution
Managerial Accounting
Module
Managerial Accounting









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Institution
Managerial Accounting
Module
Managerial Accounting

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Uploaded on
May 13, 2025
Number of pages
11
Written in
2024/2025
Type
Exam (elaborations)
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Questions & answers

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  • unit activity using consumer credit exam question

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Task 1


Credit Cards
In this task, you’ll use credit card disclosures to find pertinent information
needed to analyze credit card offers, including how interest, fees, and
penalties are assessed. Using this information, you’ll calculate the average
daily balance and finance charge for a credit card account. You’ll also
examine a published report to look for any connection between the
balance behavior of credit card accounts and credit.

Part A
Credit card lenders are required by law to provide full disclosure of credit
terms such as the annual percentage rate (APR) and fees. Consumers can
find details about all the fees and interest rates applicable to their credit
card account in the credit card disclosure document. Review the
information in this sample credit card disclosure , and then answer the
following questions.

Question 1
Question




https://f2.apps.elf.edmentum.com/courseware-delivery/ua/6011 c3NpZ25tZW50LzYwMTE4L2xhdW5jaHBhZC8xMDAwMDQzNjA1 3/26/25, 3 04 PM
Page 1 of 11




: 8

, For which reasons could you face a penalty annual percentage rate (APR)?
Select all the correct answers.


balance transfer

exceeding credit limit

late payment

low credit score

paying entire balance in full

returned payment




https://f2.apps.elf.edmentum.com/courseware-delivery/ua/6011 c3NpZ25tZW50LzYwMTE4L2xhdW5jaHBhZC8xMDAwMDQzNjA1 3/26/25, 3 04 PM
Page 2 of 11




: 8
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