Finance Chapter 4

Finance Chapter 4

9th - 12th Grade

15 Qs

quiz-placeholder

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Finance Chapter 4

Finance Chapter 4

Assessment

Quiz

Business

9th - 12th Grade

Easy

Created by

Emily Herren

Used 4+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

Which of the following is not a factor in determining a FICO score?

Getting a personal Loan

Using credit cards

Paying cash for all purchases

Taking out a mortgage on a house

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of the following is NOT a good ideafor getting out of debt?

Quit borrowing money

Get a part time-time job or work overtime

sell something

Borrow money from your parents to pay for the debt

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of the following things cannot be done with a debit card but can be done with a credit card?

Go into debt

Rent a Car

Purchase something online

Purchase an airline ticket

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What factors effect a credit score?

Type of debt

New debt

Duration of debt

All of the above

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of the following statements is false?

Prior to the FCRA, consumers were unable to challenge errors in their credit reports

Under FCRA, consumers are allowed to recieve one free credit report every 5 years

FCR created an ACT to adress consumer credit accuracy

under FCRA, creditors must notify consumers if they deny credit

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of the following is not a step in the drive free method of purchasing a car?

Plan your purchase in advance

Place your settings in a mutual fund

Start with an inexpensive car

Explore new car dealerships for best interest rate

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of the following is the most cost-effective option for purchasing a home?

Get a 15 year mortgage with 5% down payment

get a 30-year mortgage to pay the lowest possible

The most ideal way to buy a house is with 100% down, if not no more than a 15 year fixed rate mortgage

get a 30 year mortgage with 20% down

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