Personal Finance Chapter 4 Review

Personal Finance Chapter 4 Review

9th - 12th Grade

30 Qs

quiz-placeholder

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Personal Finance Chapter 4 Review

Personal Finance Chapter 4 Review

Assessment

Quiz

Other

9th - 12th Grade

Hard

Created by

Joshua Bohrer

Used 1+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Something that credit card commercials don't show you is ______.

People making payments for months or years on credit card purchases.

How much credit score will grow right away

How happy your parents will be that they don't have to lend you cash anymore.

How great your life will be with payments.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When a homeowner takes out a home equity line of credit (HELOC), that loan can only be used for home repairs and renovations.

True

False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Banks and lenders use credit scores to determine...

The likelihood that someone is able to repay debt.

A person's financial responsibility.

How much collateral someone has available to put up for a loan.

How successful someone is.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Making purchases with a credit card means that you're borrowing money with interest, and ______ pay much higher interest rates.

Young people

Rich people

Old people

College graduates

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When you finance a new car, you will end up paying more than the sticker price.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

While it may not always appear so, the majority of Americans live paycheck to paycheck.

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Your greatest tool to building wealth is ______.

Tax cuts

Single stocks

Your income

Your credit score

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