EPF Unit 6 - Credit Management

EPF Unit 6 - Credit Management

Assessment

Flashcard

Social Studies

9th - 12th Grade

Hard

Created by

Wayground Content

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61 questions

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1.

FLASHCARD QUESTION

Front

All of the following are dangers of credit, EXCEPT: Overspending, Can be dangerous in tough economic times, Can be expensive

Back

Can increase your financial options

2.

FLASHCARD QUESTION

Front

Which of the following is NOT a factor to consider when taking out a loan? Length of the loan, Total Cost of the loan, Impact of the monthly payment on your budget, How much time it takes to receive the loan

Back

How much time it takes to receive the loan

3.

FLASHCARD QUESTION

Front

How do you ruin your credit? Options: Have someone Co-Sign your loan, Not pay your bills, Get a gas/Apartment card, Cats

Back

Not pay your bills

4.

FLASHCARD QUESTION

Front

Interest is:

Back

The amount owed for borrowing money

5.

FLASHCARD QUESTION

Front

The "term" is the initial amount of money borrowed in a loan.

Back

False

6.

FLASHCARD QUESTION

Front

______________ is the amount of money you pay to use someone else's money.

Back

Interest

7.

FLASHCARD QUESTION

Front

An example of closed-ended credit is a(n) _______________

Back

Installment loan

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