Topic 6a Borrowing
Authored by A Gibson
Life Skills
9th Grade
Used 17+ times
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following is a sensible lender
Bank or building society
Loan shark
Pay day loan company
Store credit card
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between a store card and a loyalty card?
A loyalty card gives you points when you shop in that store, a store card lets you buy from them but you pay later.
Store cards give you points.
Loyalty cards give you free credit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
APR stands for
Annual Percentage Rate
Annual Person Rate
Annual Progression Rate
Annual Pound Rate
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
APR is used to
Compare the annual borrowing rates from one lender to another
Find out the fees of a company
Find out the amount you borrow
Find out the interest you pay back
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
APR gives
The amount, interest and fees when borrowing from a lender
The interest and fees when borrowing from a lender
The fees when borrowing from a lender
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is drawing money from an ATM using a credit card a bad idea?
You pay interest on the cash instantly.
You gain loyalty points for using it
You get a good rate of interest.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does interest free credit mean?
Buy now and pay later
Pay now and collect later
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