Credit Quiz (LAST ONE!!!)

Credit Quiz (LAST ONE!!!)

12th Grade

10 Qs

quiz-placeholder

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Credit Quiz (LAST ONE!!!)

Credit Quiz (LAST ONE!!!)

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

Westney Allen

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Media Image

What is credit?

The ability to obtain goods and services without paying for them

Obtaining goods and services while actually paying for them later

Being given praise for a good deed

Paying for a good over time, then receiving it later

2.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Media Image

Which of the following is NOT a reason a person needs credit?

Renting an apartment

Buying a house

Getting a job

Getting into a college or university

3.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Media Image

Which of the following is a way a person can build credit?

Paying a utility bill on time for six months

Buying and selling goods online

Paying for goods with cash only

Renovating old homes

4.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Media Image

Which of the "Three C's of Credit" refers to your credit history?

Collateral

Capacity to repay

Character

Creativity

5.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Media Image

Which of the "Three C's of Credit" refers to an asset that a lender accepts as "security" for a loan?

Collateral

Capacity to repay

Character

Creativity

6.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Media Image

Which of the "Three C's of Credit" involves the ability of the borrower to return the money on time, with interest?

Collateral

Capacity to repay

Character

Creativity

7.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Media Image

Which of the following is NOT an advantage of having GOOD credit?

More financial options available

Use low interest rates to make purchases

The risk of not possibly receiving a needed loan

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