What is the primary purpose of using credit?

Understanding Credit and Its Impact

Interactive Video
•
Business, Life Skills
•
6th - 10th Grade
•
Hard

Olivia Brooks
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To avoid taxes
To buy expensive items without immediate full payment
To avoid paying for goods
To increase savings
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a credit score?
A measure of your income
A measure of your savings
A measure of your spending habits
A measure of your trustworthiness in repaying borrowed money
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is considered a good credit score?
Exactly 697
Above 750
Between 500 and 600
Below 500
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you start building good credit?
By using a credit card for small purchases and paying on time
By saving all your money
By taking out large loans
By avoiding all forms of credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you check before making a purchase with a credit card?
The interest rate of the credit card
Your credit score
Your available budget for the bill
The seller's reputation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential risk of using credit cards irresponsibly?
Avoiding interest charges
Improving your credit score
Falling into debt and lowering your credit score
Increasing your savings
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if you don't pay your credit card bill on time?
You avoid interest charges
You receive a reward
Your financial reputation worsens
Your credit score improves
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