Debt and Bankruptcy Quiz

Debt and Bankruptcy Quiz

9th - 12th Grade

15 Qs

quiz-placeholder

Similar activities

Domain & Range

Domain & Range

9th - 10th Grade

10 Qs

Performance Test #1 Circles and Conic Section

Performance Test #1 Circles and Conic Section

10th - 11th Grade

15 Qs

3D Shapes

3D Shapes

1st Grade - University

19 Qs

Adding and subtracting polynomials

Adding and subtracting polynomials

9th Grade - University

15 Qs

Finding Slope

Finding Slope

8th - 9th Grade

15 Qs

Laws of Indices 1

Laws of Indices 1

9th Grade

20 Qs

Solving equation

Solving equation

9th Grade

20 Qs

INDEX NUMBER

INDEX NUMBER

12th Grade

10 Qs

Debt and Bankruptcy Quiz

Debt and Bankruptcy Quiz

Assessment

Quiz

Mathematics

9th - 12th Grade

Hard

CCSS
7.RP.A.3, RI.11-12.3, RI.11-12.5

+3

Standards-aligned

Created by

Matthew Bird

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When you borrow money in the form of a loan or a credit card, you can end up paying more than the loan amount because you will pay ___ in addition to the loan amount.

rate

interest

principal

balance

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the first step in the debt snowball method?

Pay off the debt with the highest interest rate first

List debts from smallest to largest by dollar amount

List debts from highest to lowest interest rate

Make minimum payments on all debts

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the main psychological benefit of the debt snowball method?

It saves more money in the long run

It focuses on high interest rates first

It is easier to manage

It provides small psychological wins

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the primary difference between the debt snowball and debt avalanche methods?

The interest rates of the debts

The total amount of debt to be paid off

The minimum payments on the debts

The order in which debts are paid off

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

According to the debt avalanche method, how should debts be prioritized?

Randomly

From highest to lowest interest rate

From smallest to largest by dollar amount

From largest to smallest by dollar amount

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the purpose of maintaining minimum payments on other debts while focusing on one?

To accumulate more debt

To avoid late fees

To increase credit score

To reduce the principal amount

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What does the debt snowball and avalanche methods aim to achieve?

Buying more assets

Being debt-free

Financial independence

Increase in debt

Tags

CCSS.7.RP.A.3

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?