Intro to Credit Cards-1-Intro to Business

Intro to Credit Cards-1-Intro to Business

9th - 12th Grade

25 Qs

quiz-placeholder

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Intro to Credit Cards-1-Intro to Business

Intro to Credit Cards-1-Intro to Business

Assessment

Quiz

9th - 12th Grade

Medium

CCSS
RI.9-10.4, 7.RP.A.3, 5.NF.B.5B

+9

Standards-aligned

Created by

Steven Howard

Used 3+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The least amount that must be paid on a credit card each month is

Late Fee
Credit Limit
Payment amount
Minimum Payment

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can a cardholder avoid paying interest on a credit card?

Do not pay anything
Pay the minimum payment after its due date
Pay the minimum balance every month
 Pay the balance in full every month

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The credit company can charge interest if the credit card bill is not paid in full by the due date

True
False

Tags

CCSS.5.NF.B.5B

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Only making the minimum payment on a credit card every month will:

lower the amount total paid for the purchase
make you independently wealthy
take longer to pay off which will result in paying more interest, more money!
pay off the credit card faster

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is credit?

Money allocated to a specific account for future use by the consumer without borrowing
Goods, services, or money received in exchange for a promise to pay a definite sum of money at a future date
The ability and willingness of an individual to pay back a loan as perceived by the lender
An individual’s character, capital, capacity, collateral and conditions

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one characteristic of open-end credit?

A down payment must be made before receiving the loan

Individuals are allowed to borrow an unlimited amount of money as long as they pay it back

Credit is extended in advance so the borrower does not have to apply for credit each time credit is desired

Payments are equal and are required on a regular basis

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Amount charged if your payment is received after the billing date

late payment fee
overdue fee
withdrawal fee
loser fee

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