Basics of Financial Contracts Test Review

Basics of Financial Contracts Test Review

6th - 8th Grade

30 Qs

quiz-placeholder

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Basics of Financial Contracts Test Review

Basics of Financial Contracts Test Review

Assessment

Quiz

Business

6th - 8th Grade

Hard

Created by

Stacie Segars

Used 10+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT an example of a financial institution?

A credit union

An investment banking center

A realtor

A mortgage company

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a closed line of credit to spend on consumer goods or

intangible goods?

A loan

A checking account

A security

A credit card

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following financial contracts involves risk?

Checking accounts

Payroll advances

Investment banking

Savings accounts

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an open line of credit to spend on consumer goods?

A loan

A checking account

A security

A credit card

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following financial contracts represents a relationship between an

employee and his or her employer?

A checking account

A payroll advance

A loan

A credit card

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Annual Percentage Rate calculates which of the following?

Debt-to-income ratio

Interest rate

Periodic Rate

Debtor income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Janet has an introductory APR for the first six months. After that her rate increases to a variable 13.99 percent. Janet purchased the card in January, how would you define her rate in October?

Variable

Fixed

Mixed

Elastic

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