Credit and Debt Quiz

Credit and Debt Quiz

12th Grade

19 Qs

quiz-placeholder

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Credit and Debt Quiz

Credit and Debt Quiz

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Isai Bonilla

Used 22+ times

FREE Resource

19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is debt?

Money that is spent

Money that is owed because of borrowing

Money that you lend to others

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the best way to manage credit and debt?

use rewards

spend now worry later

Make big purchases

set goals and budget

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What is the best credit score you can have?

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is true about a credit score?

Predicts the likelihood that a debt will be repaid

A low credit score represents a low risk to banks

The higher the credit score, the higher the interest rate you can get

credit scores are not important to banks

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are you likely to find in a credit report?

Bill Payment History

Current Debt

Types of Credit Used

All of the above

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What are the three C's that determine if you are credit worthy? (Select 3)

Character

Capacity

Collateral

Cash

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Information that lenders gather about a borrower's willingness to repay a loan

Capacity

Collateral

Character

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