Credit & Debt
Quiz
•
Mathematics
•
12th Grade
•
Medium
+5
Standards-aligned
Cassidy CTA]
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a consumer product?
credit
debt
equity
interest
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money owed to another person or company is considered to be _____.
credit
debt
equity
collateral
Tags
CCSS.RI.11-12.4
CCSS.RI.7.4
CCSS.RI.8.4
CCSS.RI.9-10.4
CCSS.RI.9-10.4
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following are considered to credit card marketing tactics except:
Offering a low or zero interest introductory rate
Requiring only the minimum payment
Encouraging consumers to pay off balances in full
Offering cash back and other rewards
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A credit card is an example of _____ because it offers credit that automatically renews whenever a payment is made to reduce the debt.
negative equity
revolving credit
installment credit
equity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: An asset is something of value that is offered as security on a debt; if the debt is not repaid as agreed, the item is forfeited to the lender.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: A credit union is an example of a a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash.
True
False
Tags
CCSS.RL.5.6
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Interest is ...
a legal claim (or right to own) against an asset until the debt (loan) is repaid
the amount of time, in months, that you'll be making payments
when the value of an asset falls below what is owed on it
the additional cost a lender charges for borrowing their money
Tags
CCSS.5.NBT.A.2
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