Credit Basics Test

Which is a form of revolving credit? (Select all that apply)

• Car Loan

• Cash Advance

• Credit Card

• Personal Loan

What is an example of an installment loan? (Select all that apply)

• Cash Advance

• Personal Loan

• Home Loan

• Car Loan

The interest paid on unpaid credit balances.

Tags

CCSS.7.RP.A.3

Which of the following are topics recently discussed regarding credit lending?

• Savings

• Credit

• Principal

• Checking

• Interest

Tags

CCSS.7.RP.A.3

Which of the following are classifications of credit? (Select all that apply.)

• Revolving Loan

• Installment Loan

• Mutual Fund

• Money Market

• Certificate of Deposit

Which ratio evaluates expenses as compared to net total?

Tags

CCSS.6.RP.A.3B

Which is the equation for Savings Ratio

• Net Savings / Net Total

• (Net Savings + Net Expense) / Net Total

• (Net Savings + Net Deposits) / Net Total

• Net Savings / Net Expense

Tags

CCSS.6.RP.A.3B

Which is the equation for Deposit Ratio?

• Total Deposits / Total Expenses

• (Total Deposits + Total Savings) / Net Total

• Total Deposits / Net Total

• Total Expenses / Total Deposits

Tags

CCSS.7.RP.A.3

Which of the following are ways to establish credit?

• Large Deposit Balance

• Store Credit Card

• Installment Furniture Purchase

• Donor Advisory Account

• Secured Credit Card

A measure of creditworthiness based on an analysis of the consumer’s financial history, often computed as a numerical score, using the FICO or other scoring systems to analyze the consumer’s credit. (Hint: Second word starts with "S".)