Intro to Credit
Interactive Video
•
Other
•
10th Grade
•
Practice Problem
•
Hard
Joseph Hernandez
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the typical maximum amount for a payday loan?
$750
$500
$200
$1000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are payday loans considered risky?
They have low interest rates.
They require a lot of paperwork.
They have high interest rates and no underwriting.
They are only available to people with good credit.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happened to Paula after taking a payday loan?
She received a bonus at work.
She won a lottery.
She struggled with high fees and interest.
She paid it off easily.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one suggested alternative to payday loans?
Ignoring the debt.
Selling possessions.
Taking another payday loan.
Borrowing more from the same lender.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should Paula consider before declaring bankruptcy?
Ignoring the lender.
Negotiating a settlement with the lender.
Taking another payday loan.
Moving to another state.
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