Managing Credit- Unit Test

Managing Credit- Unit Test

12th Grade

28 Qs

quiz-placeholder

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Managing Credit- Unit Test

Managing Credit- Unit Test

Assessment

Quiz

Financial Education

12th Grade

Practice Problem

Easy

Created by

Margaret Lafata

Used 4+ times

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28 questions

Show all answers

1.

OPEN ENDED QUESTION

30 sec • Ungraded

First Name:

Evaluate responses using AI:

OFF

2.

OPEN ENDED QUESTION

30 sec • Ungraded

Last Name:

Evaluate responses using AI:

OFF

3.

MULTIPLE CHOICE QUESTION

30 sec • Ungraded

Hour/Class:

2nd hour
4th hour

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. What are the two most important factors in calculating your credit score?

Payment history and types of accounts
Amounts owed and length of credit history
Payment history and total debt
Length of credit history and new credit inquiries

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. Heather realized she has taken out too much debt and it has started to negatively impact her ability to budget. She has decided to pay off this debt in full as soon as possible. All of the following would be beneficial strategies EXCEPT…

Reducing spending by canceling some of her streaming subscriptions
Taking extra shifts at work to increase her income
Making more than the minimum required payment on her debt
Applying for another credit card to use in case she runs out of cash paying off her debt

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

3.Which of the following statements about credit scores does this bar graph support?

Credit scores tend to drop as you grow older because you are more likely to miss a payment at some point
It is more difficult for young people to borrow because they have less payment history for a lender to rely upon
When young people borrow, they are likely to have lower interest rates because their credit scores are lower
It is easier for young people to get loans at lower interest rates because they are likely to have never been late with a payment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. All of the following would show up on a credit report EXCEPT...

Salary of your current job
Payment history of your car loan
Credit card payment history
Student loan activity

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