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Credit and Debt

Authored by Bobby SouthGarnerHS

Financial Education

12th Grade

Credit and Debt
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does FDIC stand for?

Federal Deposit Interest Corporation

Federal Debt Investment Company

Federal Deposit Insurance Corporation

Financial Deposit Insurance Corporation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which account is designed to build interest over time?

Checking Account

Money Market Account

Savings Account

Certificate of Deposit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary function of a Credit Union?

To insure deposits

To provide banking services to its members

To offer loans to the public

To make a profit from its members

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the range of a Credit Score?

300 to 850

200 to 850

100 to 900

0 to 800

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does APR stand for?

Annual Payment Rate

Annual Profit Rate

Annual Principal Rate

Annual Percentage Rate

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of bankruptcy involves liquidation?

Chapter 11

Chapter 13

Chapter 7

Reorganization

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Certificate of Deposit?

A checking account with no fees

A high-interest savings account

A loan with a fixed interest rate

A savings alternative with a fixed term

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