◈ Oracle Prep Sign Up Free

O-LevelCommerceCredit7100/12 · Oct/Nov 2017 · Q331 Mark

Which statement about credit cards is not correct?

Acredit card allows you to spend up to the credit limit on your account.

BAPR is the annual rate of interest charged on a credit card.

CBalance transfers from another credit card company are free of interest.

DThe 16 digits shown on the front of the credit card is your account number.

✓ Correct answer

C: Balance transfers from another credit card company are free of interest.

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill Credit and see which topics are most likely to come up next.

Sign up free →

About this question

Topic: Credit, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2017 Paper 1 Variant 2, question 33.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Commerce questions

CreditMay/June 20121m

A small-scale shopkeeper allows customers she knows well to have goods and pay for them at the end of the week. What …

CreditMay/June 20131m

What is the main function of a finance house?

CreditMay/June 20141m

Ahmed has seen an advertisement for a computer. It includes the words ‘credit terms available'. Which statement expla…

FinanceMay/June 201220m

During May, a fruit and vegetable shop has a turnover of $50000. The mark-up is 25% on purchases made mostly from who…

TransportMay/June 201220m

Many businesses worldwide use road, rail, air and sea transport to move goods.

BankingMay/June 201220m

Many people use ATM machines, debit cards and the Internet to conduct their banking.

← Browse all past-paper questions