EVERFI Build: Credit Fundamentals™ Acquiring Credit All Lessons

Quiz
•
Other
•
11th Grade
•
Hard
Crystal McCullough
FREE Resource
40 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these are long-term impacts of having a good credit history?
It lets you buy the things you want like clothes or cellphones.
It gives you freedom to shop around for the best deal on tech.
It prevents you from spending money on things you want instead of things you need.
It’s easier to pay for major purchases like cars, houses, and education.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of card impacts your credit history?
Debit card
Student credit card
Driver’s License
State ID Card
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which action could help improve your credit history?
Leave credit card bills outstanding.
Always pay your credit card bill on time.
Only get a debit card and avoid credit cards.
Make a major purchase that you can't afford right now.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the correct definition for the grace period?
The amount you pay for your card each year
The amount of time you have to make late payments
The time between when you make a purchase using the credit card and the date when the credit card company begins charging you interest
The amount of time you have to pay your secured deposit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to find a credit card with a lower APR?
A lower APR means you have more time to pay off your balance.
A lower APR gives you a better credit history.
A lower APR impacts your grace period.
A lower APR means you pay less in interest.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do lending and credit card companies use a borrower's Social Security number when opening an account?
To withdraw taxes
To assign an interest rate
To protect against fraud
To ensure borrowers are US citizens
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the reason to pay more than the minimum payment due on your credit statement each month?
You save money on interest.
It takes more time to pay off a balance.
It hurts your creditworthiness.
Your credit utilization rate stays the same.
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