What is Credit?
What is Credit/Praguer U

Quiz
•
Financial Education
•
6th - 8th Grade
•
Hard
Jamie Krysak
FREE Resource
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A way to borrow money from the government
A loan you need to pay back within a month
The ability to borrow money and pay later
Only for buying small items like snacks
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit allows you to buy on the ___________ that you will pay for it later.
condition
idea
card
promise
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you use credit, who are you borrowing money from?
Credit card company/bank
parents
loan officer
checking account
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does paying your bills on time impact your credit score?
No effect on your score
It can hurt your credit score
It positively impacts your score
Only affects your spending habits
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can credit affect your ability to make large purchases, such as a car or home?
Poor credit means easier loan approvals
Good credit can make large purchases more affordable
Credit does not affect large purchases
Only cash purchases are possible for large items
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a lender?
Someone who borrows money
Someone who gives loans or credit
A person who buys items in stores
A person who keeps your money safe
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who gives you a credit score?
Your bank
Your employer
Credit reporting agencies (Equifax, Experian, TransUnion)
Your friends and family
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What determines your credit score?
The amount of money you have in the bank
The number of credit cards you own
Your credit history, including payment history, debt, and credit use
Your age and education level
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If I pay my bills on time, what will happen to my credit score?
It will go down
It will stay the same
It will go up
It will disappear
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