Debt Ch. 4 - Personal Foundations Dave Ramsey

Debt Ch. 4 - Personal Foundations Dave Ramsey

10th - 12th Grade

38 Qs

quiz-placeholder

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Debt Ch. 4 - Personal Foundations Dave Ramsey

Debt Ch. 4 - Personal Foundations Dave Ramsey

Assessment

Quiz

Business

10th - 12th Grade

Practice Problem

Easy

CCSS
RI.11-12.3, RL.11-12.6, RI.11-12.4

+11

Standards-aligned

Created by

Holly Riley

Used 23+ times

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38 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a factor in determining a FICO score?

Getting a personal loan from a bank
Using credit cards
Paying cash for all purchases
Taking out a mortgage on a house

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a good idea for getting out of debt?

Quit borrowing money
Get a part-time job or work overtime
Sell something
Borrow money from your parents to pay for the debt

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following things cannot be done with a debit card but can be done with a credit card?

Go into debt
Rent a car
Purchase something online
Purchase an airline ticket

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What factors affect a credit score?

Type of debt
New debt
Duration of debt
All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the most cost-effective option for purchasing a home?

Get a 15-year mortgage with a 5% down payment.
Get a 30-year mortgage so that you can get the lowest possible payments.
The most ideal way to buy a house is with 100% down; if that is not an option, you should get no more than a 15-year, fixed rate mortgage with a down payment of at least 10%.
Get a 30-year mortgage with a 20% down payment.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not recommended in the debt snowball method of getting out of debt?

List your debts in order from smallest to largest balance and focus on paying the smallest debt off first.
Every extra dollar you get should be thrown at the largest debt first.
Attack your debt with intensity.
Every time you pay off a debt, you add its old minimum payment to your next debt payment.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a credit myth?

The lottery and other forms of gambling will you make you rich.
You have "arrived" financially once you get approved for a credit card.
Debt is a tool and should be used to create prosperity.
Borrowing money can have serious consequences and prevent you from building wealth.

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