Intro to Credit
Quiz
•
Mathematics, Life Skills
•
10th - 12th Grade
•
Practice Problem
•
Medium
+19
Standards-aligned
William Stewart
Used 32+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the principal of the loan?
the initial amount of the loan
the cost of borrowing the loan
the period of time you take out the loan for
a manager in charge of the loan
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a loan term?
The amount of time a revolving line of credit can be open
The payment of income to a savings account in regular payments over a set period of time.
The period in which the loan is to be repaid, each payment broken down into individual installments
Specifically related to the black market for human organs, and typically meant as the length of time one's kidney will be used for other purposes
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Type of loan used specifically for purchasing a home is a __________
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Another name for open ended credit is ____________ credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____________ is a report that details how a person has used credit in the past.
Tags
CCSS.RI.11-12.5
CCSS.RI.6.5
CCSS.RI.7.5
CCSS.RI.8.5
CCSS.RI.9-10.5
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is when the interest rate will remain the same for the life of the loan
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
If the collateral for your secured loan can be taken away, why get a secured loan at all?
Because they usually have a higher interest rate
Because they usually have a lower interest rate
Banks give you an extra 90 days to make a missed payment
Banks typically don't charge interest for the first 12 months
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