
Credit Test Review
Authored by Nate Smith
11th - 12th Grade
Used 2+ times

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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is true regarding many people who struggle with credit card debt?
Most is a result of ATM fees
Small purchases add up quicker than most people think
Low interest rates can hurt your credit score
Your credit score has a huge impact on your account balance
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A purchase put on a credit card is...
always interest free
often a way to hurt your credit score
a short term loan
independent of your credit score
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is NOT true regarding a credit card's APR?
"APR" is also known as interest
If you miss a payment, your APR may increase
If you pay off your entire balance each month, your APR is irrelevant
All of the above are true
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Where/how can you go to get a credit card?
The bank
A mall/retail store, such as Macys or J. Crew
An offer you receive in the mail
All of the above are acceptable
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a disadvantage of owning a credit card?
The lender will never cover you if someone makes a fraudulent purchase
It is linked directly to your checking account
People tend to spend more using credit than using cash
All credit cards charge an annual fee
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not one of the "three C's" of creditworthiness?
Calculations
Capacity
Capital
Character
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is true regarding your credit score?
People like moneylenders, landlords, etc. will want to see your credit score
Pulling your credit score lowers your credit card (slightly)
People with higher credit scores receive better interest rates than those with lower credit scores
All of the above are true
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