Understanding Payment Types

Understanding Payment Types

Assessment

Passage

Social Studies

12th Grade

Medium

Created by

DAVID BRYANT

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a payment?

Transfer of money, goods, or services

Exchange of only goods

Transfer of only services

Exchange of only money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Currency provides a convenient medium through which payments can be made and can also be easily ______.

Lost

Stolen

Stored

Ignored

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one advantage of using credit cards?

Build a credit history

Immediate fund withdrawal

No processing fees

High interest rates

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common fee associated with credit card transactions?

Flat fee

No fee

Low interest

High rewards

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which payment method is widely accepted by many merchants?

Credit cards

Cash only

Checks

Cryptocurrency

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Debit cards typically don't have _______ as long as you have money in your account.

annual fees

overdraft protection

credit score benefits

fraud protection

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Debit cards don't charge interest since all payments are facilitated using _______.

the bank's money

the spender's money

credit

loans

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