Indicate whether the statement is true or false. 1. A credit card allows you to spend money loaned by a financial institution.

Chapter 7 Test

Quiz
•
Mathematics
•
12th Grade
•
Medium
Dylan Silva
Used 6+ times
FREE Resource
36 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
True
False
2.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Indicate whether the statement is true or false. 2. Credit cards and debit cards are the same. (True/False)
True
False
3.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Indicate whether the statement is true or false. 3. Finance charges on credit cards cannot be avoided.
True
False
4.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Indicate whether the statement is true or false. 4. You must complete an application to get a credit card. (True/False)
True
False
5.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Indicate whether the statement is true or false. 5. A credit report shows a summary of all the companies that have extended credit to you.
True
False
6.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
A finance charge is a fee associated with credit.
True
False
7.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
A revolving line of credit means the credit limit is constantly changing.
True
False
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