Intro to Credit (FL7)

Intro to Credit (FL7)

Assessment

Flashcard

Life Skills, Business

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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42 questions

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1.

FLASHCARD QUESTION

Front

Credit is the most commonly used method of purchase in the United States.

Back

True

2.

FLASHCARD QUESTION

Front

Which situation involves the use of credit? Options: borrowing money from a friend, using a credit card, taking out a loan from a bank

Back

All answers are correct

3.

FLASHCARD QUESTION

Front

You borrowed $30,000 from the bank to buy a car. When you make your monthly loan payment, you're paying what?

Back

both principal and interest

4.

FLASHCARD QUESTION

Front

Which is an advantage of using credit?

Back

Credit can expand your purchasing power

5.

FLASHCARD QUESTION

Front

When traveling, which is a safer payment method? Options: cash, credit card

Back

credit card

6.

FLASHCARD QUESTION

Front

Which is an example of revolving credit?

Back

credit card

7.

FLASHCARD QUESTION

Front

If you pay with a credit card for $200 worth of groceries, you might end up paying more than $200.

Back

True

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