Credit Knowledge Quiz

Credit Knowledge Quiz

9th Grade

15 Qs

quiz-placeholder

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Credit Knowledge Quiz

Credit Knowledge Quiz

Assessment

Quiz

Financial Education

9th Grade

Practice Problem

Medium

Created by

Donald Toney

Used 15+ times

FREE Resource

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can users of credit compare costs of products?

By guessing the interest rates

By comparing annual fees and interest rates

By asking friends for advice

By choosing the first option available

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do banking waiving interest and annual fees for a year make it more likely that you apply for a card?

It makes the card seem more attractive

It increases the card's interest rate

It decreases the card's benefits

It makes the card harder to obtain

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why does a down payment help limit the risk of the bank and make it more likely you get a loan?

It shows the borrower has no money

It reduces the amount of money borrowed

It increases the loan amount

It makes the bank more suspicious

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the major scoring model used to calculate credit score?

FICO

ABC

XYZ

123

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What personal information do you submit on a credit application?

Favorite color

Access to financial records

Pet's name

Favorite food

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a high credit score indicate about the borrower?

They are a high risk

They have poor financial habits

They are a low risk

They have no credit history

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a low credit score indicate about the borrower?

They are a low risk

They have excellent financial habits

They are a high risk

They have a lot of savings

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