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WISE Review #2

Authored by Allison Burtt

Social Studies

12th Grade

Used 19+ times

WISE Review #2
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27 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a credit card cash advance?

credit card holders get cash as points for using their card

credit card holders can take out cash for high interest rates

credit cards are the same thing as cash

when people do not have to pay back their credit card bill

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What law protects consumers in their dealings with lenders and creditors?

Truth in Lending Act

Usury Laws

Fair Credit Act

Lending Smart Law

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if you only pay the minimum due on your credit card?

your credit card bill will be paid in full

you will not have to pay any interest

you will pay it off quicker and pay less in interest

it will take longer to pay it off and you will have more interest

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is NOT a consequence of a paying a credit card bill late?

you will be charged a late fee

your credit score will fall

your credit score will rise

you will be charged a higher interest rate

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What makes up your credit score?

length of credit history

amounts owed

new credit

all of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the degree of risk influence the interest rate charged for credit?

the higher the risk= the higher the interest rate

the higher the risk = the lower the interest rate

the lower the risk = the higher the interest rate

risk does not influence interest rate

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a debt to credit ratio?

how much debt you have from all your loans

the amount of credit you have compared to the credit you are using

how much a creditor is willing to lend you

how many assets you have compared to your debts

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