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Credit Practice I

Authored by sharon landgraf

Social Studies

9th - 12th Grade

Used 10+ times

Credit Practice I
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36 questions

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1.

MULTIPLE CHOICE QUESTION

15 mins • 2 pts

Interest rate charged for balances on a credit card.

APR

Principal

Collateral

Fees

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Users borrow money on the card and pay it at a later time

Credit

Debit

Both

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What does APR mean?

Average Person Ratio
Annual Percentage Rate
Always Poke Robots
Apples Peas & Rice

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is a good way to build credit?

Get a co-signer for a loan
Only use cash
Use checks everywhere

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Amount charged if your payment is received after the billing date

late payment fee
overdue fee
withdrawal fee
loser fee

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is one advantage of having a credit card?

It prevents you from spending more than you earn.
It allows you to make purchases without carrying lots of cash.
It encourages you to budget your money wisely.
It helps you pay off debts that you may have.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What happens when you don't have enough money to pay for the things you charged?

You end up owing less than the original amount of money you charged.
You end up owing more than the original amount of money you charged.
You end up owing the same amount of money you charged, it just takes a while to pay off.

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