Credit & Bankruptcy Quiz

Which of the following is a type of credit card that offers rewards for purchases?

• Secured Credit Card

• Rewards Credit Card

• Prepaid Credit Card

• Business Credit Card

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What is the primary purpose of a secured credit card?

• To earn travel rewards

• To build or rebuild credit

• To avoid interest charges

• To get cash back on purchases

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Which type of bankruptcy is known as "liquidation" bankruptcy?

• Chapter 7

• Chapter 11

• Chapter 13

• Chapter 15

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In the bankruptcy process, what is the term for the legal declaration that a person cannot repay their debts?

• Insolvency

• Foreclosure

• Bankruptcy

• Liquidation

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Which of the following is a common scam where fraudsters pretend to be from a legitimate company to steal personal information?

• Phishing

• Skimming

• Spoofing

• Vishing

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What is the main difference between a secured credit card and an unsecured credit card?

• Secured credit cards require a security deposit

• Unsecured credit cards have higher interest rates

• Secured credit cards offer more rewards

• Unsecured credit cards are only for businesses

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Which type of credit card is specifically designed for business expenses?

• Student Credit Card

• Business Credit Card

• Travel Credit Card

• Secured Credit Card

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What is the term for a scam where a device is placed on an ATM to steal card information?

• Phishing

• Skimming

• Spoofing

• Vishing

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Which chapter of bankruptcy involves a reorganization plan for businesses to keep operating while repaying creditors?

• Chapter 7

• Chapter 11

• Chapter 13

• Chapter 15

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What is the primary goal of Chapter 13 bankruptcy?

• Liquidate assets to pay off debts

• Reorganize debts and create a repayment plan

• Close down a business

• Avoid paying any debts

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