Credit Card Knowledge Quiz

What is one advantage of using a credit card?

• Offers rewards like cash back

• Charges high interest rates

• Limits spending

• Requires membership fees

What protection does a credit card offer against unauthorized use?

• No protection

• Protected from theft

• Higher interest rates

• Membership fees

What is one way credit cards can limit your spending?

• By offering cash back

• By putting limits on purchases

• By improving your credit score

• By protecting from theft

What is a disadvantage of having a credit card?

• Offers rewards

• Charges fees

• Improves credit score

• Protects from theft

What is one way credit cards can help with financial management?

• By charging high fees

• By offering rewards

• By limiting spending

• By increasing debt

What is one advantage of using checks according to financial institutions?

• They are free to use.

• They can trace a check to prove payment was or was not made.

• They are accepted everywhere.

• They never bounce.

What must you do when you run out of checks?

• Use a credit card instead.

• Write on a piece of paper.

• Purchase more checks.

• Stop making payments.

What can be obtained to show that a check was signed and deposited?

• A digital receipt.

• A physical copy of the check.

• A verbal confirmation.

• An email notification.

What is a risk if a debit card is lost or stolen?

• You gain extra rewards.

• Your personal information could be found out.

• You automatically get a new card.

• Your account balance increases.

How can using a debit card help with budgeting?

• It hides your spending.

• It helps you budget your money.

• It increases your spending.

• It offers no budgeting help.