WorksheetsMoney Matters - Credit 1
Total questions: 18
Worksheet time: 36mins
Name
Class
Date
1.
The best credit cards can only be obtained after you have done what?
a)
Established a good credit history.
b)
Just started and do not have any bad marks.
c)
After you have missed some payments.
2.
When you are starting out, this makes it easier to get a credit card.
a)
Security Deposit
b)
A Car
c)
An Apartment
d)
Monkeys
3.
Your first credit card can ________________ or _______________ your credit.
a)
Build / Ruin
b)
Increase / Develop
c)
Establish / Move
4.
You should check the _____________ BEFORE you get the card.
a)
Rates
b)
Colors
c)
Benefits
d)
Plan
5.
If you pay at the right time, these are avoidable on credit cards.
a)
Fees
b)
Mailings
c)
Benefits
d)
Drafts
6.
In addition to fees, if you pay at the right time, these are avoidable on credit cards.
a)
Interest
b)
Mailings
c)
Benefits
d)
Drafts
7.
You can and should pay ___________ than the minimum on credit cards.
a)
More
b)
Less
c)
Just
d)
Monkeys
8.
Paying your bill late comes at a what?
a)
Very high price.
b)
Tough time.
c)
Low Cost
9.
If you max out your cards or get close to your credit limit what effect does it have on your score?
a)
It lowers your score
b)
It raises your score
c)
It does nothing to your score
10.
Credit fraud is not as difficult to deal with as it used to be.
a)
true
b)
false
11.
What happens it you are rejected for credit?
a)
The creditor will tell you why.
b)
Nothing. You never know why.
c)
You can be arrested for fraud.
12.
What are the 3 C's of Credit?
a)
Capacity / Character / Collateral
b)
Capacity / Commerce / Collateral
c)
Capacity / Character / Commerce
13.
In the 3 C's of Credit, what refers to your ability to pay the money back?
a)
Capacity
b)
Character
c)
Collateral
14.
In the 3 C's of Credit, what refers to the creditor believing you will pay the money back?
a)
Capacity
b)
Character
c)
Collateral
15.
In the 3 C's of Credit, what refers to what you the bank can take if you default on your payments.
a)
Capacity
b)
Character
c)
Collateral
16.
All of the following can not be taken as collateral EXCEPT…
a)
Your car
b)
Your House
c)
Your Savings
d)
Your Children
17.
What do creditors look for when looking at your character?
a)
Good Credit History and Personal History
b)
Good Credit History
c)
Good Personal History
d)
Good Income
18.
What do creditors look for when deciding your Capacity to pay money back?
a)
They look at what percentage of obligations you have versus your income.
b)
They look at how much money you have made in the past.
c)
They look how many cars you have and how much your house is worth.
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