Credit and Financial Literacy Flashcard

Credit and Financial Literacy Flashcard

Assessment

Flashcard

Business

9th Grade

Practice Problem

Hard

DOK Level 1: Recall

Standards-aligned

Created by

Wayground Content

FREE Resource

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17 questions

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1.

FLASHCARD QUESTION

Front

How can you avoid paying interest on a debt?

Back

Pay the entire balance in full and on time

2.

FLASHCARD QUESTION

Front

What percentage of your credit score is determined by payment history?

Back

35%

3.

FLASHCARD QUESTION

Front

What is a grace period?

Back

The time between the billing date and the payment due date when no interest is charged

4.

FLASHCARD QUESTION

Front

What is the recommended credit utilization ratio to maintain?

Back

Below 30%

5.

FLASHCARD QUESTION

Front

What are the types of credit used?

Back

Closed-end and open-end

6.

FLASHCARD QUESTION

Front

What does the length of credit history consider?

Back

Time since accounts opened and time since account activity

7.

FLASHCARD QUESTION

Front

What do credit inquiries show?

Back

How many times you have applied for credit recently

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