Understanding Credit and Its Importance

Understanding Credit and Its Importance

Assessment

Flashcard

Business

12th Grade

Hard

Created by

Wayground Content

FREE Resource

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13 questions

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1.

FLASHCARD QUESTION

Front

What is credit?

Back

Borrowing money to buy something now and paying it back later

2.

FLASHCARD QUESTION

Front

Why use credit?

Back

Convenience and safety

3.

FLASHCARD QUESTION

Front

Which of the following is NOT a type of creditor? A) Banks/credit unions, B) Investment firms, C) Grocery stores, D) Credit card companies

Back

Grocery stores

4.

FLASHCARD QUESTION

Front

Fill in the blank: A good credit score makes it easier to borrow money for ______.

Back

Big purchases

5.

FLASHCARD QUESTION

Front

What is one factor to consider before using credit?

Back

Necessity of purchase

6.

FLASHCARD QUESTION

Front

How do banks decide who gets credit?

Back

By checking credit reports and scores

7.

FLASHCARD QUESTION

Front

Who can see your credit report?

Back

Landlords and employers

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