Personal Finance Quiz 1
Authored by John Gervais
Education
8th - 12th Grade
Used 3+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
T/F: One responsibility of borrowing money is to not exceed the credit limit established by your creditor.
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
T/F: It is ok to resell merchandise before completely paying off your creditor.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The contract you sign when renting a place to live is called a ____________.
Contract
Option
Lease
Signing Statement
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
T/F: One perk to renting a home is that you can basically do whatever you want to the property..
True
False
5.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
Credit is basically the amount of (a) a lender has in you about your ability to pay it back.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of money that you will have to pay on top of the purchase you make when using credit is called _____________ .
Insurance
accrued payments
interest
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is NOT seen as an advantage to using credit?
Able to buy items now
Convenient
Creates a record of purchases
Interest
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