EPF Unit 6 - Credit Management

EPF Unit 6 - Credit Management

9th - 12th Grade

62 Qs

quiz-placeholder

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EPF Unit 6 - Credit Management

EPF Unit 6 - Credit Management

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Aaron Edwards

Used 30+ times

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62 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

All of the following are dangers of credit, EXCEPT:

Overspending
Can be dangerous in tough economic times
Can increase your financial options
Can be expensive

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is NOT a factor to consider when taking out a loan?

Length of the loan
Total Cost of the loan
Impact of the monthly payment on your budget
How much time it takes to receive the loan

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How do you ruin your credit?

Have someone Co-Sign your loan
Not pay your bills
Get a gas/Apartment card
Cats

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Interest is: 

A charge for lending money to a bank
The amount owed for borrowing money
the amount added into your savings when opening a bank account
a charge for the convenience of accessing money stored in your bank account

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The "term" is the initial amount of money borrowed in a loan.

True
False

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________ is the amount of money you pay to use someone else's money.

Interest
Credit
Principal
Term

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An example of closed-ended credit is a(n) _______________

Installment loan
Credit card
Equity Credit line

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