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What is Credit?

What is Credit?

Assessment

Interactive Video

Social Studies

9th Grade

Practice Problem

Easy

Created by

Mara Cavanaugh

Used 3+ times

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is credit?

A method of investing in stocks.

A type of savings account.

A way to avoid paying taxes.

The ability to borrow money or obtain goods and services with the understanding that payment will be made later.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of revolving credit?

Mortgage

Student loan

Car loan

Credit card

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is installment credit typically used for?

Buying groceries

Paying utility bills

Specific purchases like cars or homes

Daily expenses

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What information is generally required when applying for credit?

Your pet's name

Your social media profiles

Your favorite color

Your income, employment history, and credit score

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to maintain a good credit score?

To get free movie tickets

To increase your social media followers

To avoid paying taxes

To get better interest rates and terms

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