credit

credit

9th - 12th Grade

10 Qs

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Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Paula Fontaine

Used 21+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a credit score?

What lenders use to see if you are able to pay back credit

3 numbers

What your score on a test is that was worth credit

The total amount due on your credit card

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is your job as a borrower?

To charge as much as you can

To borrow as much as humanly possible
Spend your loans and not pay them back

To pay back your loans promptly

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is debt?

Another word for death

Something, typically money, that is owed or due

A loan on which you do not have to pay interest

That which is incurred during childhood and consummated in college

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Revolving credit is...

a type of credit that can be used repeatedly up to a certain limit as long as the account is open and payments are made on time.

a type of credit that can be used only once up to a certain limit and must be closed immediately after all payments are due

a spinning door with money in it

a round device that holds credit cards and spins, making it easy to shuffle through all your credit cards quickly

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following is not a characteristic of an installment loan?

repaid over time

scheduled payments

accompanied by an interest rate

also known as a revolving loan

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

What does a secured loan mean?

the bank needs special approval

you will have to pay a high interest rate

it is high risk to the bank

the loan has collateral

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The least amount that must be paid on a credit card each month is

Late Fee
Credit Limit
Payment amount

Minimum Monthly Payment

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