What is Credit?

What is Credit?

7th - 8th Grade

25 Qs

quiz-placeholder

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What is Credit?

What is Credit?

Assessment

Quiz

Computers, Other, Life Skills

7th - 8th Grade

Medium

Created by

JOHN GODINEZ

Used 16+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There are different forms of credit such as loans and credit cards.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A credit card is a form of a loan.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you apply for a loan, you will be told the interest rate.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A loan’s principal is the amount you pay back.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit card interest rates are usually lower than rates for other loans.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A credit card user can avoid interest charges by paying the entire balance when the bill is due.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person can expect to pay the same amount of interest on a loan no matter what bank or credit union they use.

True

False

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