Credit/Debit (Everfi)
Authored by Shena Noble
Life Skills
9th - 12th Grade
Used 1K+ times
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About
This quiz comprehensively covers personal finance concepts focusing on credit, debt management, and loans, making it appropriate for grades 9-12. The questions assess students' understanding of when loans are appropriate financial tools versus when they should be avoided, the key factors to consider when selecting credit cards (APR, fees, credit limits), and the relationship between credit scores and loan opportunities. Students need to understand the fundamental differences between secured and unsecured loans, including how collateral affects interest rates and lender risk. The quiz also requires knowledge of practical credit management strategies, including the importance of paying full balances to avoid interest charges and maintain good credit scores, methods for protecting against identity theft and fraud, and smart approaches to car loan shopping that involve comparing pre-approval offers rather than accepting dealer financing. Created by Shena Noble, a Life Skills teacher in the US who teaches grades 9-12. This quiz serves as an excellent assessment tool for reinforcing the EverFi financial literacy curriculum and can be effectively used for formative assessment, homework assignments, or review sessions before major tests. Teachers can deploy this as a warm-up activity to gauge student understanding of credit concepts or as practice material to help students master these essential life skills before graduation. The quiz aligns with financial literacy standards including CCSS Mathematical Practices and state-specific personal finance education requirements that emphasize responsible borrowing, credit management, and consumer protection strategies. Students benefit from the repetitive reinforcement of key concepts through multiple question formats, helping them internalize the decision-making frameworks they'll need as young adults entering the credit marketplace.
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25 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Using a loan could help you with the purchase of which of the following>
A new television
A dream wedding
A house
Airline tickets to your dream vacation.
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
When are loans a good option to use?
To pay for airline tickets to your dream vacation
When paying for higher education
To buy that new television
For a dream wedding
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What should you NOT use a loan to purchase?
A house
Tuition for higher education
Airline tickets to your dream vacation
A car
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which item is important to consider when selecting a credit card?
Annual Percentage Rate (APR)
Fees
The look of the credit card
Both APR and fees
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of these items is NOT important to consider when selecting a credit card?
Annual Percentage Rate (APR)
The look of the credit card
Credit limit
Penalties and fees
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when
Choosing a financial advisor
Choosing a credit card
Looking at your credit score
Selecting a financial institution
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What in NOT a benefit of having a good credit score?
When you need a loan, you'll have more loan offers to pick from.
You'll get better interest rates on your loans.
It will be easier to get an apartment.
You'll get accepted to better education institutions.
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