Personal Finance-Chapter 16 Credit Management
Quiz
•
Life Skills
•
9th - 12th Grade
•
Medium
Randall Twitty
Used 5+ times
FREE Resource
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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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