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Alex - Borrowing money

Authored by Jessica Morseau

Education

7th Grade

Used 99+ times

Alex - Borrowing money
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Alex's age?

16

18

20

22

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Alex dream of getting?

Car

Bicycle

Motorcycle

Scooter

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two types of loans mentioned in the text?

Credit card loan and Student loan

Installment loan and Flexible money reserve

Personal loan and Mortgage loan (= for a house)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does APR stand for?

Accrued Profit Revenue

A Personal Rate

Average Payment Ratio

Annual Percentage Rate

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should Alex do before using a credit contract?

Set a budget and be sure he can repay the amount

Sign the contract immediately

Borrow more money

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What is the best use of a flexible money reserve according to the text? Tick a second one that is also right.

For large amounts and long periods

For small amounts and very short periods

For emergency situations only

For luxury purchases

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should Alex do if he can no longer repay the borrowed amount?

Keep borrowing more money

Wait for a discount

Contact the lender or a debt mediator

Ignore the situation

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