Understanding Buy Now Pay Later (BNPL)

Understanding Buy Now Pay Later (BNPL)

Assessment

Interactive Video

Business

9th - 10th Grade

Hard

Created by

Jennifer Brown

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key difference between BNPL services and traditional loans?

Traditional loans are managed by third-party companies.

BNPL services often do not charge interest if paid on time.

Traditional loans are interest-free.

BNPL services always charge interest.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a potential benefit of using BNPL?

It can help manage cash flow by spreading payments.

It requires a hard credit check.

It eliminates the need for a budget.

It always improves your credit score.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential risk associated with BNPL plans?

They require a large upfront payment.

They are only available for electronics.

They can lead to overspending due to easy payment terms.

They always have high interest rates.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which BNPL provider offers a transparent approach with upfront payment details?

Affirm

American Express

Klarna

Afterpay

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do traditional credit card companies integrate BNPL options?

By requiring no credit checks.

By offering interest-free loans.

By tying installment payments to existing credit accounts.

By eliminating all fees.