Loans 101 Quiz

Loans 101 Quiz

9th - 12th Grade

20 Qs

quiz-placeholder

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Loans 101 Quiz

Loans 101 Quiz

Assessment

Quiz

Other

9th - 12th Grade

Practice Problem

Hard

Created by

JUAN AVALOS

Used 9+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the definition of a Big Purchase?

A designer handbag

A major purchase like a house or a car

The cost of going to a concert

A pair of Balenciaga Shoes

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is a Will & Testament?

It's when someone gives you access to their bank account before they die.

It's a verse in the ancient texts of the bible.

It's a verbal agreement naming beneficiaries before dying.

It's a legal document giving instructions about money and possessions.

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What's an example of tax records?

dental records

vehicle registration

auto insurance proof

tax returns

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When signing a Lease Agreement, what exactly are you doing?

You're agreeing to buy something.

You're hiring an attorney.

You're signing a contract of rental.

You're buying a time share.

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What does it mean to default on a loan?

Failure to repay a loan

Paying off a loan in full

Proving reliability to pay loans on time

Showing the bank you should be approved for a loan

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is collateral?

It's damage done to something other than the primary military target

Something on the periphery of a central focus

It's an item of value that's forfeited in the event of default on a loan.

Additional but subordinate; secondary

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Where are important files or records best stored?

Under the bed

Between the box spring and mattress

At your neighbor's house

In a fireproof safe

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