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WorksheetsDebt and Credit Review Quizizz
Total questions: 24
Worksheet time: 12mins
What is the top amount that can be charged to a credit card called?
Credit score
Credit limit
Interest rate
Minimum payment
What is a name for the $$ amount charged to a credit card at any given time?
Credit Limit
Current Balance
Minimum Payment
Interest Rate
What is the term used to describe money trustworthiness when it comes to paying back debt/loans?
Credit score
Interest rate
Loan term
Mortgage
What is the typical length of a credit card billing cycle?
Weekly
Bi-weekly
Monthly
Annually
What are the possible consequences of failing to pay your credit card monthly?
Accrue interest
Fees
Credit score goes down
All of the above
If you fail to pay your credit card monthly, you will ______ interest.
Accrue
Lose
Pay off
Ignore
How many digits is a CC number?
12
14
16
18
How many digits is the CVV?
2
3
4
5
What is the primary purpose of a CVV?
To enhance online security
To increase transaction speed
To provide discounts
To track spending
The CVV is used to protect your credit card from being used by ______.
friends
family
criminals
merchants
What is a secured debt/loan?
A loan that requires no security
A loan that requires a security deposit or collateral
A loan that is given without any interest
A loan that is only for businesses.
A secured debt/loan requires a ______.
high interest rate
security deposit or collateral
government approval
long repayment period
What is collateral?
A) A type of loan
B) A possession, property, or asset that can be seized if you fail to pay off your debt
C) A financial institution
D) A type of investment.
Which of the following is an example of revolving credit?
Mortgage
Credit card
Student loan
Debit card
Which of the following is an example of installment credit?
Credit card
Car loan
Overdraft
Debit card
Fill in the blank: A _______ is a type of installment credit.
Credit card
Mortgage
Overdraft
Line of credit
Which of the following is typically considered an appreciating asset?
Car
Home
Furniture
Electronics
A car is a ______ asset.
A) Appreciating
B) Depreciating
Is it true that everyone has a car payment?
True
False
What is one of the best practices for using a credit card?
Charge even if you don't have money in your bank account
Only charge when you already have the money in your bank account
Use it to get as many reward points as possible
Pay off the balance once a year.
Fill in the blank: The best and only Mr.-Porter-Approved use of a credit card is to build ________.
reward points
a credit score
debt
cash back
How often should you pay off the whole balance of your credit card according to best practices?
Once a month
Twice a month
Every week
Once a year
What is the method called that is considered the best (safest) way to pay off multiple debts or loans?
Debt avalanche
Debt snowball
Debt consolidation
Debt settlement
If you took 50 months to pay off a $50,000 auto loan, what's the monthly payment?
$100
$500
$1000
$1500
