
Understanding Credit Cards
Passage
•
Social Studies
•
12th Grade
•
Hard
Wayground Content
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What did Kelsey Miller receive from her grandparents before her trip to Chile?
Cash
Credit card
Debit card
Traveler's checks
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the text, why do many teens have restricted credit card use?
They prefer using cash
They have experienced debt
They have yet to experience the darker side of personal finance like debt
They have high credit scores
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the concept of debt as mentioned in the text.
Borrowing money from friends
Owing money to a company or individual
Using credit cards responsibly
Saving money for emergencies
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does compound interest work against individuals when they carry a credit card balance and only pay a small amount each month?
It decreases the total debt
It reduces the interest charges
It adds to the debt principal each month
It speeds up the payment process
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it mentioned in the text that not all debt is bad?
Debt always leads to financial trouble
Debt can help pay for emergency expenses
Debt is always avoidable
Debt is a sign of financial irresponsibility
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Laura Levine, the executive director of Jump$tart, suggest people should do before signing up for credit cards?
Sign up immediately
Avoid investigation
Do some investigation
Spend without limits
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean for credit card users when the text states, "The No. 1 thing to know about plastic is that it's not free money"?
Credit cards are free to use
Credit cards require payment eventually
Credit card companies give out free money
Credit cards eliminate the need for cash
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