WorksheetsChapter 4: Debt
Total questions: 10
Worksheet time: 19mins
Name
Class
Date
1.
Money Loaned
a)
Credit
b)
Leasing
c)
Debt Snowball
d)
Co-Signing
2.
Using your home as collateral to borrow money
a)
Leasing
b)
Home equity loan
c)
Adjustable rate mortgage
3.
Taking responsibility for someone else's loan
a)
Credit
b)
Leasing
c)
Co-signing
4.
Combining Debt into one payment
a)
Credit
b)
Leasing
c)
Debt Consolidation
d)
Co-signing
5.
Long term rental agreement
a)
Debt
b)
Credit
c)
Leasing
d)
Debt Consolidation
6.
Never take an Adjustable Rate Mortgage
a)
True
b)
False
7.
Paying with cash means you will spend less money overall than with a card
a)
True
b)
False
8.
You need a credit card to build credit, rent a car, pay for online purchases, and get a hotel room.
a)
True
b)
False
9.
Buying a good used car is a good way to minimize losing money from depreciation (the car losing value over time)
a)
True
b)
False
10.
The typical millionaire drives new cars
a)
True
b)
False
100 %
