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Chapter 16 Quiz

Authored by GRADY FLANAGAN

Social Studies

6th Grade

Used 5+ times

Chapter 16 Quiz
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29 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

TRUE or FALSE? Credit cards are an investment.

T

F

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT an example of a fixed expense?

mortgage payment

rent payment

car insurance payment

groceries

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the MOST common method used in the U. S. to become a home owner?

save for the purchase

borrow most of the money

get the house as a gift

pay in cash

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the negative results of writing checks that total more than the money left in the bank account?

The bank charges you a fee.

The person or company to whom you wrote the check charges you a fee.

You have to make the check good.

all of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is maintaining a good credit history important?

A person with a poor credit history and low credit score may find it hard to get more credit.

Credit scores measure how likely a person is to pay off a loan and credit score is based on a person’s credit history.

Potential employers may check credit history before offering a job.

all of the above

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the following are examples of variable expenses? Select ALL that apply.

mortgage payment

rent payment

concert tickets

groceries

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An investment is money spent on something with the goal of making more money in the future. Which of the statements below is TRUE of investing?

A financial investment involves putting money into things like stocks and bonds, CDs and mutual funds.

A real investment involves putting money into something physical such as real estate or equipment.

Both investments are totally safe.

Both investments have some level of risk that would cause loss of value.

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