Credit Management

Credit Management

9th Grade - University

12 Qs

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Credit Management

Credit Management

Assessment

Quiz

Business, Life Skills

9th Grade - University

Medium

Created by

Laura King

Used 8+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is credit?

Money to purchase things you need or want

Money borrowed to use or buy

something now, with an agreement to

pay later

Money borrowed that doesn't have to paid back

A gift of money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is a debtor?

Person who gives money to a friend or relative

Person who loans money or extends credit

Person who borrows or uses credit

Person who borrows someone else's credit card

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is a creditor?

Person who borrows money or uses credit

Person who uses someone's credit card

Person who gives money to a friend, as a gift.

Person who loans money or extends credit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is collateral?

Property used to ensure repayment of a loan.

A corporate ladder

Property given to someone as a gift.

Property worth more than your debt.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is principal?

Mr. Travis

Amount a piece of property is worth

Amount of money borrowed (loan amount).

Amount of money extended as credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do you calculate the balance due?

Finance Charge + Capital = Balance Due

Principal + Finance Charge = Balance Due

Finance Charge + Interest

Principal + Collateral + Capital

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What's included on a credit card statement?

Minimum payment, late fee, & due date

Maximum payment & due date

Maximum payment and finance charge

Minimum payment & collateral

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