Credit Card Quiz 3
Authored by Jill Edwards
Other
11th - 12th Grade
Used 4+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
1. What does APR stand for?
Annual purchase rate
Annual percentage rate
Approximate payment rotation
Authorization processing rate
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
2. Which fees do all credit cards have?
Annual fees
Over-the-limit fees
Foreign transaction fees.
Some credit cards have no fees at all.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When do you have to pay a cash advance fee?
When you move a balance from one card to another
When you do not make your payments on time
When you spend more than your limit on a card
When you withdraw money from an ATM
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
If a card has a $2,400 balance and a minimum payment of 4%, what would you need to pay to keep your card in good standing? Assume that there are no other fees involved.
$40
$24
$96
$240
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What would be the approximate one-month interest be for a $5,000 credit card balance with a 12% APR?$120$600$500$50
$120
$600
$500
$50
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