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Credit &Debt

Authored by Corrine Kupstas

Financial Education

11th Grade

Credit &Debt
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19 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________________ is a legal process in which a person is declared incapable of paying debts to his creditors.

A. Bankruptcy

B. Credit limit

C. Finance charge

D. APR

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________________ is the ability of a person to use money they do not have, or, an arrangement to receive cash, goods, or services now and pay for them in the future.

A. Credit

B. Investment

C. Savings

D. Bankruptcy

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________________ a file maintained by credit reporting agencies evaluating a person's performance as a result of paying their bills.

A. Credit report

B. Credit limit

C. Finance charge

D. APR

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________________ an investment product that brings together money from many people to be invested and managed by a professional company.

A. Mutual fund

B. Credit card

C. Savings account

D. Loan

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________________ the habit of investing the same dollar amount in the same investment at regular intervals of time.

A. Dollar-cost averaging

B. Credit limit

C. Finance charge

D. APR

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________________ a temporary interest rate, advertised as a low APR, to entice customers to apply for a credit card. After the introductory period, the interest rate will increase to the regular APR.

A. Introductory rate

B. Credit limit

C. Finance charge

D. APR

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________________ is the range of FICO scores.

A. 300-850

B. 100-500

C. 200-700

D. 400-900

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