DAVE RAMSEY FOUNDATION CH1: QUIZ 1
Authored by Jeffrey Lease
Life Skills
11th Grade
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A fee paid by a borrower to the lender for the use of borrowed money.
interest
consumer
loan
debt
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An obligation of repayment owed by one party (debtor/borrower) to a second party (creditor/lender).
consumer
credit
debt
economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person or organization that buys/uses goods and services.
personal finance
debt
loan
consumer
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A debt evidenced by a "note," which specifies the principal amount, interest rate, and date of repayment (example: House Mortgage)
consumer
loan
credit
interest
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The granting of a loan and the creation of a debt; any form of deferred payment.
personal finance
interest
loan
credit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A system by which goods and services are produced and distributed.
economy
personal finance
consumer
debt
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The knowledge and skillset necessary to be an informed consumer and manage finances effectively.
consumer
interest
debt
financial literacy
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