Personal Financial Responsibility: Chapter 8 Review

Personal Financial Responsibility: Chapter 8 Review

KG - University

30 Qs

quiz-placeholder

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Personal Financial Responsibility: Chapter 8 Review

Personal Financial Responsibility: Chapter 8 Review

Assessment

Quiz

Specialty

KG - University

Practice Problem

Medium

Created by

Deda Rush

Used 33+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Long-term debt is a loan that is payable over a period longer than a year.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a credit card company charges an annual fee, it will be charged regardless of whether the cardholder has used the card or carried a balance in the last year.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Amortization is the process of dividing your debt obligation, plus interest, into increasingly smaller monthly payments over a set period of time.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If something major happens to a leased car, such as engine failure, the lessee usually must pay for it.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Many car buyers seek to obtain a pre-approved loan so that they know the maximum amount they will be able to borrow in advance.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A lease payment on a car is typically much more than a monthly car loan payment.

True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A landlord must keep tennants' security deposits in a separate account and refund any nonused portions.

True
False

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