Q1/Q2 Review

Q1/Q2 Review

Assessment

Flashcard

Business

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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28 questions

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1.

FLASHCARD QUESTION

Front

What is the principal amount in a loan?

Back

The original amount of money borrowed

2.

FLASHCARD QUESTION

Front

What does interest represent in a loan?

Back

The cost of borrowing money

3.

FLASHCARD QUESTION

Front

Which of the following is a benefit of using credit? It eliminates the need to save money, It allows you to make purchases without cash, It guarantees lower prices on goods, It increases your monthly expenses

Back

It allows you to make purchases without cash

4.

FLASHCARD QUESTION

Front

What is a credit score?

Back

A numerical representation of your creditworthiness.

5.

FLASHCARD QUESTION

Front

Which factor has the highest impact on your credit score? Options: Length of credit history, Credit mix, Payment history, New credit

Back

Payment history

6.

FLASHCARD QUESTION

Front

How is the interest rate usually expressed?

Back

As a percentage of the principal

7.

FLASHCARD QUESTION

Front

What is considered a "Good" credit score range? Options: 300-499, 500-600, 661-780, 781-850

Back

781-850

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