Credit Quiz (LAST ONE!!!)
Quiz
•
Social Studies
•
12th Grade
•
Hard
Westney Allen
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 10 pts
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
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
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
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
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
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
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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