Credit and Debt

Credit and Debt

7th Grade

27 Qs

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Assessment

Quiz

7th Grade

Practice Problem

Hard

Created by

Hillary Bishop

Used 1K+ times

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27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Using a loan could help with the purchase of which of the following?

a) A new television

b) A dream wedding

c) A house

d) Airline tickets to your dream vacation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When are loans a good option to use?

a) To pay for airline tickets to your dream vacation

b) When paying for higher education

c) To buy that new television

d) For a dream wedding

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should you NOT use a loan to purchase?

a) A house

b) Tuition for higher education

c) Airline tickets to your dream vacation

d) A car

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which item is important to consider when selecting a credit card?

a) Annual Percentage Rate (APR)

b) Fees

c) The look of the credit card

d) Both APR and fees

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these items is NOT important to consider when selecting a credit card?

a) Annual Percentage Rate (APR)

b) The look of the credit card

c) Credit limit

d) Penalties and Fees

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when _____.

a) Choosing a financial advisor

b) Choosing a credit card

c) Looking at your credit score

d) Selecting a financial institution

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is NOT a benefit of having a good credit score?

a) When you need a loan, you'll have more loan offers to pick from.

b) You'll get better interest rates on your loans.

c) It will be easier to get an apartment.

d) You'll get accepted to better education institutions.

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