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Introduction to Credit

Professional Development

8th Grade

Used 8+ times

Introduction to Credit
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17 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

When using credit, the purchase amount becomes what once the payment agreement is made?

Loan

Debt

Mortgage

IOU

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Credit allows for purchases without cash.

True

False

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Credit agreements are not legally binding.

True

False

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Credit is free.

True

False

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Lenders do not check a person's likelihood to repay before accepting a credit agreement.

True

False

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following is NOT a type of credit?

Loans

Debit Cards

Revolving credit accounts

Credit Cards

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following is often used for operating expenses?

Lump loans

Short-term loans

Intermediate-term loans

Large loans

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