
Credit
Quiz
•
9th - 12th Grade
•
Easy
Darci Miles
Used 9+ times
FREE Resource
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8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debt is best explained as:
Money owed
A type of card that attaches to your checking account
A payment made to a bank
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit cards allow you to:
Take money directly from your checking account when you buy something
Have better interest rates than a homeowner's loan
Purchase goods on credit understanding that you will have to pay it back at a later date
All of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A percentage charged to someone for borrowing money is:
A credit limit
A minimum balance
A percentage fee
An interest rate
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Annual Percentage Rate (APR) is best described as:
The late payment fee you credit card companies for paying your bills late
The amount you pay just once a year
the yearly cost of a loan (the cost of credit).
The score you are given for using credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The set length of time in which you have to make a payment on your credit card without interest
Monthly billing
Grace period
Minimum payment deadline
None of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The lowest amount of money you have to pay your credit card company each month
Minimum balance
Monthly billing amount
Late payment fee
APR
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A credit limit is best described as:
The amount of money you must spend each month on your credit card
The balance you owe each month
the maximum amount you can charge on your credit card
None of the above
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