Personal Finance Debt Review

Personal Finance Debt Review

7th Grade - University

20 Qs

quiz-placeholder

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Personal Finance Debt Review

Personal Finance Debt Review

Assessment

Quiz

Other Sciences

7th Grade - University

Medium

CCSS
RL.11-12.6, HSF.BF.A.2

Standards-aligned

Created by

John Kensek

Used 442+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true about using a credit card?
It's the same as using cash.
When you use a credit card, one spends less
When you use a credit card, one spends more
Studies show it registers as pain

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Payday lending and cash advance services are 
A thing of the past that no one uses today
Highly effective at cutting down debt
Huge Ripoffs
the best way to build a credit score

Tags

CCSS.RL.11-12.6

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is the number one target of credit card companies?
People without a high school diploma
Teenagers
The elderly
Middle Aged Adults

Tags

CCSS.RL.11-12.6

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Kevin has the following debts: Home Equity Loan, $24,000; Visa, $1,200; Student Loan, $5,000; Car, $12,000. How should he prioritize his debt snowball?
Home Equity Loan, Visa, Student Loan, Car
Visa, Car, Student Loan, Home Equity Loan
Visa, Student Loan, Car, Home Equity Loan
Cannot prioritize the debt snowball without knowing the interest rates on

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the best way to buy a car?
O% interest for 36 months on new or used
Leasing
Purchasing new at the end of the year
purchase used and pay cash

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of mortgage is best when buying a home?
Fixed Rate 30 year mortgage
Fixed Rate 15 year mortgage
Adjustable Rate Mortgage
Balloon Mortgage

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a step out of debt?
Consolidate the debt
Quit borrowing money
Sell Something 
Use the debt snowball method

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