PF: Chapter 4 Lesson 6 Getting and Staying Out of Debt

PF: Chapter 4 Lesson 6 Getting and Staying Out of Debt

11th Grade

10 Qs

quiz-placeholder

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PF: Chapter 4 Lesson 6 Getting and Staying Out of Debt

PF: Chapter 4 Lesson 6 Getting and Staying Out of Debt

Assessment

Quiz

Business

11th Grade

Hard

Created by

Steve Wills

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of Americans live paycheck to paycheck?

22%

56%

78%

91%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Second Foundation for achieving a debt-free lifestyle?

Save a $500 emergency fund

Get out and stay out of debt

Pay off all debts as quickly as possible

Avoid debt throughout your life

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of Americans believe health care is worth going into debt for?

61%

37%

16%

11%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step to get out of debt?

Save a $500 emergency fund

Get a part-time job or work overtime

Sell something

Start saving money

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Debt Snowball Method?

Paying off debts with the highest interest rates first

Paying off debts with the smallest balance first

Paying off debts in the order they were acquired

Paying off debts randomly

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does debt steal from you?

Hope for your future

Ability to be generous

Financial security

Opportunity to build wealth

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended approach to giving when in debt?

Give large amounts of money

Give small amounts of money or time

Don't give until debt is fully paid off

Give only to family and friends

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