Creating a dictionary from two lists
A common way to create a dictionary from two lists is zipping. The zip built in takes two lists and creates a list of pairs from them. In turn, a list of pairs can be used to create a dictionary directly.

Your case has an extra twist: we need to pad the list of values to the same length as the list of keys, otherwise the keys with no corresponding values would simply get dropped.

Even with this minor complication, the function can be written simpler quite easily:

def create_dict(keys, values):
    return dict(zip(keys, values + [None] * (len(keys) - len(values))))


Btw I renamed the function with snake_case to follow recommended PEP8 conventions.

Another alternative somewhat more compact alternative is using itertools.zip_longest:

from itertools import zip_longest


def create_dict(keys, values):
    return dict(zip_longest(keys, values[:len(keys)]))