Which of the following are examples of credit?

Credit and Debt

Quiz
•
Other
•
9th - 12th Grade
•
Medium
Angela Way
Used 40+ times
FREE Resource
21 questions
Show all answers
1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
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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