Credit and Debt

Credit and Debt

9th - 12th Grade

21 Qs

quiz-placeholder

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Credit and Debt

Credit and Debt

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Angela Way

Used 40+ times

FREE Resource

21 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following are examples of credit?

installment loans

mortgages

credit cards

savings account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is credit?

The benefit or value that you give up to acquire something else

Money you borrow that has to be paid back

The cost of borrowing money expressed as a percentage

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following is true about credit. Select all that apply.

The financial institution covers the purchase when it's made.

You pay the money back

Credit cards take money directly from your checking account

You'll be charged interest if you don't repay your balance in time

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is an example of a debt?

Buying dinner for a friend

Paying for groceries with your debit card

Owing a friend $25 for concert tickets

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is interest?

The cost of borrowing money expressed as a percentage

Money you borrow that has to be paid back

The increase in the general prices of goods and services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why should you avoid using credit for items that depreciate in value?

You should always use credit for these items

You will end up paying more in interest

Your credit score will go down

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does accruing credit card debt mean?

Repaying the financial institution your credit card debt

Increasing the amt of credit card debt you owe

Having money deposited into your account

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