Debt
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11th Grade - University
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15 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following statements is true about Debt?
Debt is the amount of money you have in your checking account.
Debt is the amount of money you have borrowed from a person or a business.
Debt is the ability to borrow money.
Debt is the amount of money you have in a savings account.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
True or False: When you owe someone money, you have a liability?
True
False
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
True or False: A liability is the state of being responsible for something, and this term can refer to any money or service owed to another party.
True
False
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What are some of the most common forms of debt?
Mortgages
Auto loans
Credit card debt
All of these options are correct
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Is there such a thing as 'Good Debt' and 'Bad Debt'?
Yes
No
Maybe
I don't know
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is secured debt?
A debt that has a liability attached to it.
A debt that has an asset attached to it.
A debt that will not change.
A debt that you can trust.
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A home loan is an example of...
Secured debt
Unsecured debt
Neither
Both
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