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Unit 2 Practice Test (Applied Math)

Authored by Angela Kelley

Mathematics

12th Grade - University

CCSS covered

Used 5+ times

Unit 2 Practice Test (Applied Math)
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19 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 5 pts

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How can you build a positive credit history as a college student?

Get a credit card but don't use it to avoid more debt

Spend up to your credit limit each month

Become an authorized user on an adult's card

Make only the minimum payment each month

2.

MULTIPLE CHOICE QUESTION

3 mins • 5 pts

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T/F: A negative credit event (bankruptcy) can have a WORSE impact on a higher credit score.

True

False

Tags

CCSS.6.NS.C.7A

CCSS.6.NS.C.7B

3.

MULTIPLE CHOICE QUESTION

3 mins • 5 pts

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Which of the following does NOT contribute to your credit score?

Your payment history

Which banks issued your credit cards

Your debt-to-credit ratio

Length of credit history

Tags

CCSS.7.NS.A.2C

4.

MULTIPLE SELECT QUESTION

3 mins • 5 pts

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Why might someone have a thin file?

They've had multiple lines of credit open for 15 years

They only have 4 types of credit open

Their parents took out accounts in their name when they were a minor

You are relatively new to establishing credit

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

5.

MULTIPLE CHOICE QUESTION

3 mins • 5 pts

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How can having a thin file impact you?

You are likely to get lower interest rates on your loans

You may be offered new lines of credit in the mail

Lenders may decline your application for a loan

Most landlords will approve you to rent an apartment or home

6.

MULTIPLE CHOICE QUESTION

3 mins • 5 pts

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Where do banks get the money to lend out to consumers?

From their clients' credit card accounts

From their clients' savings accounts

From the Federal government

From their own money vaults

7.

MULTIPLE CHOICE QUESTION

3 mins • 5 pts

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How do banks make money off of the credit they issue?

They charge a large, one-time fee at the start of the loan

They take out a small fee each month from your checking account

They charge a high interest rate on the loan

This is a trick question - they DON'T make money!

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