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Unit 6 Credit

Authored by Catherine Shanley

Other

11th Grade

CCSS covered

Used 1+ times

Unit 6 Credit
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11 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an annual fee?

The act of transferring money

A fee charged by a card issuer each year for being a card holder.

The days between the last statement and the current statement.

A fee charged to a cardholder's account once a payment is late.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a finance charge?

Possible charges added to your account for using the credit card.

A fixed annual percentage rate of the finance charge.

A charge from the bank for getting a credit card.

None of the above.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An Annual Percentage Rate (APR) is?

A low interest rate offered for a limited time by a company.

The interest rate charged on the amount borrowed.

The amount of interest charged to an account for the billing cycle.

The money you gain after paying your bills.

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Define; Credit Line

Maximum amount you’re allowed to charge on your credit card

Dollar Amount of something you bought on your credit card

The amount you pay on Unpaid Balance

PR Divided by 12 – Interest charged per month

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Define; Minimum Payment

Minimum payment you HAVE to make each month to avoid late fees
Statement sent to you once a month
Increase in APR if you are more than 60 days late paying
The amount you pay on Unpaid Balance

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Define; Late Payment Fee

Fee charged when payment is received after the due date

Dollar Amount of something you bought on your credit card

Maximum amount you’re allowed to charge on your credit card

The amount you pay on Unpaid APR that is lower for a year OR until a specific date

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A plastic card issued by a bank or business used to buy goods and services on credit.

Credit Card

Debit Card

Prepaid Card

Gift Card

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