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Introducing the Credit Card Answer Guide

The answers below correspond to the exercises in Introducing the Credit Card. The correct ones are bolded for convenience, with detailed explanations where applicable. For a list of answers without explanations, see the Quick Reference Answer Guide in the back.

Annotated Answer Guide

Exercise 1: What is Credit

  • 1. What is a credit card?
    1. A plastic card with a magnetic strip on the back
    2. Something that represents a line of credit
    3. A source of free money.
    4. Answer: Both A and B
  • 2. Which of these could be a credit card number?
    1. 1122 2542 2565 215
    2. Answer: 4670 1016 4923 7710
    3. 5581 5820 4387 0956 1370
    4. All of the above
  • Explanation: Credit card numbers must be 16 to 19 digits long. A is 15, B is 16, and C is 20.
  • 3. How many digits are in a standard credit card number?
    1. 17
    2. Answer: 18
    3. 19
    4. Answer: A credit card number can be 16 to 19 digits long.
  • 4. What happens after the expiration date on a credit card?
    1. The card no longer works
    2. The cardholder has to get a new card
    3. The card blows up
    4. Answer: Both A and B
  • 5. How many numbers are in a CVV code?
    1. 1
    2. 2
    3. 3
    4. 4
    5. Answer: 3 or 4

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