FA Unit 7 Test Review
Authored by Charles Davis
Mathematics
9th - 12th Grade
CCSS covered
Used 10+ times
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20 questions
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1.
DROPDOWN QUESTION
1 min • 1 pt
Credit cards would be considered which type: (a)
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Keon plans to buy a new GMC Sierra for $47,000 at 5.5% APR. Which financing option would have the highest total interest?
60-month term and a $2,000 down payment
60-month term and a $3,500 down payment
36-month term and a $3,500 down payment
36-month term and a $5,000 down payment
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In order to take out federal student loans, you need to complete and submit the
School application
FAFSA
FASFA
Repayment plan
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is an example of an unsecured loan?
A student loan
A mortgage loan
A Pawnshop loan
A car loan
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following best describes a Schumer box?
The portion of your credit card agreement that lays out the important rates and fees
A type of box used to store items
The portion of your monthly credit card bill that lists the minimum monthly payment due
The portion of your credit card application that asks for your income and employment status
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which statement is true about an annual percentage rate (APR)?
APR is the interest rate combined with guaranteed fees
APR is almost always lower than the interest rate
Interest rate is for loans, while APR is for credit cards
Interest rate is money you earn on investments, while APR is money you pay for debt
7.
DROPDOWN QUESTION
1 min • 1 pt
(a) are the largest source of debt for most American households.
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