Credit Quiz

Money someone borrows is called a

• present

• lender

• tax

• loan

The ability to buy something now and pay for it later over time.

• interest

• credit

• budget

• lease

The fee a lender charges to borrow money.

• loan

• tax

• interest

• donation

Using credit means a person will pay _______for something than it costs.

• less

• more

• same

• equal

Iory wants to buy a computer, he uses his credit card for the purchase. Who is the lender?

• Iory

• bank

• credit card company

• computer manufacturer

What is the most likely reason that Kathleen bought an iPad using credit?

• Wanted to compare prices

• Thought the iPad might go on sale later

• Needed the iPad for school

• Did not have enough cash to pay for the iPad

What is the benefit of saving money?

• you wont buy anything

• you will work harder

• you wont have to borrow money

• you can buy now and pay later

Sarah gets $50 for babysitting, Tiana gets $10 for her birthday, Kiet finds $3 under his bed and Kelly's mother gives her $15 to go to the mall. Which person has earned money?

• Sarah

• Kiet

• Tiana

• Kelly

Which would be considered donating to charity.

• Buying stickers from the vending machine

• Giving a birthday gift to a friend

• Lending a pencil to your classmate

• Bringing socks for Sock-tober

When you receive special training to do a job your income will

• decrease

• stay the same

• increase

• answer not here