
Loans 101 Quiz
Authored by JUAN AVALOS
Other
9th - 12th Grade
Used 10+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the definition of a Big Purchase?
A designer handbag
A major purchase like a house or a car
The cost of going to a concert
A pair of Balenciaga Shoes
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a Will & Testament?
It's when someone gives you access to their bank account before they die.
It's a verse in the ancient texts of the bible.
It's a verbal agreement naming beneficiaries before dying.
It's a legal document giving instructions about money and possessions.
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What's an example of tax records?
dental records
vehicle registration
auto insurance proof
tax returns
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When signing a Lease Agreement, what exactly are you doing?
You're agreeing to buy something.
You're hiring an attorney.
You're signing a contract of rental.
You're buying a time share.
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What does it mean to default on a loan?
Failure to repay a loan
Paying off a loan in full
Proving reliability to pay loans on time
Showing the bank you should be approved for a loan
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is collateral?
It's damage done to something other than the primary military target
Something on the periphery of a central focus
It's an item of value that's forfeited in the event of default on a loan.
Additional but subordinate; secondary
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Where are important files or records best stored?
Under the bed
Between the box spring and mattress
At your neighbor's house
In a fireproof safe
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