Credit Basics
Authored by Tamarra James
Life Skills, Other
10th Grade
CCSS covered
Used 625+ times
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17 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following are dangers of credit, EXCEPT:
Overspending
Can be dangerous in tough economic times
Can increase your financial options
Can be expensive
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
True or False: Credit can lead to overspending.
True
False
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is NOT a factor to consider when taking out a loan?
Length of the loan
Total Cost of the loan
Impact of the monthly payment on your budget
How much time it takes to receive the loan
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
How do you ruin your credit?
Have someone Co-Sign your loan
Not pay your bills
Get a gas/Apartment card
Cats
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following would IMPROVE your credit score.
Closing out old credit cards.
Paying off your credit card bill.
Using a large portion of your credit limit.
Opening a new savings account.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Interest is:
A charge for lending money to a bank
The amount owed for borrowing money
the amount added into your savings when opening a bank account
a charge for the convenience of accessing money stored in your bank account
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The "term" is the initial amount of money borrowed in a loan.
True
False
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