Introduction to Credit

Introduction to Credit

8th Grade

16 Qs

quiz-placeholder

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Introduction to Credit

Introduction to Credit

Assessment

Quiz

Financial Education

8th Grade

Easy

Created by

Jocelyn Cantu

Used 1+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 6 pts

When using credit, the purchase amount becomes what once the payment agreement is made?

Loan

Debt

Mortgage

IOU

2.

MULTIPLE CHOICE QUESTION

1 min • 6 pts

Credit allows for purchases without cash.

True

False

3.

MULTIPLE CHOICE QUESTION

1 min • 6 pts

Credit agreements are not legally binding

True

False

4.

MULTIPLE CHOICE QUESTION

1 min • 6 pts

Credit is free

True

False

5.

MULTIPLE CHOICE QUESTION

1 min • 6 pts

Lenders do not check a person's likelihood to repay before accepting a credit agreement.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 6 pts

Which of the following is NOT a type of credit?

Loans

Debit Cards

Revolving Credit Accounts

Credit Cards

7.

MULTIPLE CHOICE QUESTION

1 min • 6 pts

Which of the following is often used for operating expenses?

Lump Loan

Short-Term Loans

Intermediate-Term Loans

Large Loans

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