4 - Transactions & borrowing

4 - Transactions & borrowing

10th - 11th Grade

21 Qs

quiz-placeholder

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4 - Transactions & borrowing

4 - Transactions & borrowing

Assessment

Quiz

Other

10th - 11th Grade

Practice Problem

Medium

Created by

K McCall

Used 7+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The term used to describe the exchange of money is...

Transition

Transaction

Transfer

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Disadvantages of physical currency include...

You can only spend what you’ve got

Hard to trace if stolen

Easy to use

Carrying large amounts is a security risk

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When using a debit card, you can only spend the amount of money you have available in your account.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On completion of a transaction with a debit card, the money is removed from your account immediately

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How long does it usually take for a cheque to clear?

1-2 days

3-4 days

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit cards are a form of short term loan.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anything you spend on a credit card will be added to your bill that will be payable at the end of each month.

True

False

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