Search Header Logo

Credit Card Unit Test

Authored by Sarah Chop

Mathematics

9th - 12th Grade

CCSS covered

Used 11+ times

Credit Card Unit Test
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is credit?

Money allocated to a specific account for future use by the customer without borrowing

Money received in exchange for a promise to pay a specific amount of money at a later

date

An customer’s ability to repay a loan

The ability of a customer to pay back a loan as perceived by the credit card company

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When you buy something with a credit card, which one of the following will usually

save you money over the long run?

Paying the entire amount owed each month

Paying a small portion of the amount owed over a longer period of time

Paying a small portion of the amount owed each month

Paying the entire amount owed, but only every other month

Answer explanation

If you pay your bill in full you won't be charged interest.

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What does it mean to buy something 'on credit'?

To promise to pay for an item later

To promise to fill out a credit card application in the future

To promise to pay for an item at the point of sale

To promise that you’ll purchase an item at a later date

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Benefits of credit cards include:

They are safe and convenient

Credit cards typically offer bonuses and rewards

They allow you to purchase items online

All of these

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following items can be found on a credit card statement?

The payments made and new charges

All fees and interest charged

Year to date totals and how long it will take you to pay it off with only the minimum

payment

All of the above

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the amount charged if your payment is received after the billing date?

Late payment fee

Overdue fee

Withdrawal fee

Reward fee

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which one is NOT a benefit of having a credit card?

It can raise a person’s standard of living

It is convenient

A customer is charged interest

It increases the financial options available to a customer

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?