
Consumer Credit
Authored by John Robinson
Social Studies
12th Grade

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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
What happens if you don't pay back money you borrowed?
You get more money
Nothing happens
You might have to pay extra and it can hurt your credit
You get a reward
2.
FILL IN THE BLANK QUESTION
1 min • 1 pt
In Month 1 of this loan it accounts for $1,041.50 of the payment. In Month 350, the debtor only need to pay 59.60 towards this amount. The cost of borrowing money is referred to as _______________.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Benefits of credit cards include:
safe and convenient, bonuses are offered
allows you to build a positive credit report
needed for reservations and online shopping
all of these
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
To build a good credit history, you should
open as much credit as possible quickly
use the maximum credit allowed on all your credit cards
pay on time and as much of your balance as possible
all of these
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The maximum amount you are allowed to carry as a balance on the card
interest
ARP
credit limit
all of these
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which one is considered a danger of using a credit card
no cash needed
leads to overspending
convenient
earns rewards
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What financial habits determine your credit score?
Payment History & Amount you owe
Length of credit history & Amount of new credit applied for recently
Types of credit open
All of these are correct
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