Payment Methods

Payment Methods

9th - 11th Grade

30 Qs

quiz-placeholder

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Chapter 1: Retail

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Payment Methods

Payment Methods

Assessment

Quiz

Business

9th - 11th Grade

Medium

CCSS
L.11-12.4C, 7.RP.A.3, 7.NS.A.2A

+14

Standards-aligned

Created by

Alex Wright

Used 102+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which is an advantage of using cash?

It is accepted almost everywhere in the UK.

You can spend more than you have.

If you lose it, it is gone.

It is safer than a card or check.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is a disadvantage of using a credit card?
It is easy to use.
You can spend more than you have. 
It can be used in emergencies.
Banks sometimes give rewards on credit cards. 

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the difference between Debit and Credit?
Debit uses money borrowed from the bank, Credit uses the money you already have.
Credit uses borrowed money or the bank's money, Debit uses your money.  
They are both cards, they are the same. 
Debit charges interest until the balance is paid. Credit does not because you are using your own own money. 

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is an advantage of using a credit card?

Interest is charged for the use of a credit card.

Consumers can purchase things now, and pay for them later in the event of an emergency.

You could be a victim of identity theft.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The purchase amount is immediately removed from a linked account.

Debit Card

Credit Card

Stored-Value Card

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Payments can be made in the future.

Debit Card

Credit Card

Stored Value Card

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If you make only the minimum payment each month, you will pay more in interest and it will take longer to pay off the balance.

Debit Card

Credit Card

Store Value Card

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