Personal Finance-Chapter 16 Credit Management

Personal Finance-Chapter 16 Credit Management

9th - 12th Grade

14 Qs

quiz-placeholder

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Personal Finance-Chapter 16 Credit Management

Personal Finance-Chapter 16 Credit Management

Assessment

Quiz

Life Skills

9th - 12th Grade

Medium

Created by

Randall Twitty

Used 5+ times

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14 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Over ____% of all U.S. purchases are made with credit rather than cash.

40%

50%

75%

80%

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

________ is the use of someone else's money, borrowed now with the agreement to pay it back later.

Debit

Credit

Collateral

Capital

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Between 1920 and 1990, buying on _______ became the American way of life.

Cash

Debit

Capital

Credit

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In the 1990's, record number of people declared ___________. Overuse of credit cards was one of the main reasons.

bankruptcy

to be a millionaire

to have plenty of money

they were in no debt

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A ___________ is a person who borrows money from others.

creditor

Loaner

Lender

Debtor

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A _________ is a person or business that loans money to others.

creditor

debtor

capital

collateral

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

To qualify for credit, you must have the ability to repay the loan. Qualifications are based on

income, capital, cars

income, capital, collateral

cars, capital, collateral

income, cars, collateral

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