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WorksheetsCredit Quiz-Management
Total questions: 15
Worksheet time: 8mins
A disadvantage of using credit is impulse buying
True
False
Capital refers to a person’s assets.
True
False
What is principal?
The fee that is paid to borrow money
The rate lenders charge borrowers for money.
The non-interest portion of a loan.
The paying off of a debt with a fixed repayment schedule in regular installments over a period of time.
Paying your bills on time is a characteristic of:
capital
character
capacity
Having a steady job is an example of:
character
capacity
capital
Installment credit usually allows a person to make additional purchases on an account.
True
False
A common advantage of using credit is:
less impulse buying
lower cost for items purchased
lower chance of overspending
ability to obtain needed items now
APR is the _______ rate charged by a credit card.
Interest
Collateral
Assets
Credit Report
Character answers which of the following question?
will you repay the debt?
what if you don’t repay the debt?
can you repay the debt?
Paying for a jacket with a credit card is considered what type of credit?
installment
revolving
single-payment
Name one way to protect your account information.
let your friend use your cards
post your account numbers on Facebook
throw your account statements in the trash
avoid giving account numbers over the phone
Monthly telephone bill
Single-payment credit
Installment credit
Revolving Credit
If your take home pay is $400, what should be the maximum monthly payment on your debt?
$40
$4
$80
$800
If your yearly income is $3000, your maximum debt amount should be no more than?
$600
$60
$300
$30
Monthly student loan payment
Installment
Revolving
Single Payment
Collateral
