Have an account?
Skip to Content
Build your own quiz
20 questions
Show Answers
See Preview
- 1. Multiple ChoiceFinancial Literacy is having the knowledge, understanding, and skills necessary to become an effective consumer.TrueFalse
- 2. Multiple ChoiceUsing a credit card allows you to...put money into a savings account.purchase something now and pay for it later.take money directly from your checking account.
- 3. Multiple ChoiceAll of these are examples of types of credit except:savings accountcollege loancredit cardscar loan
- 4. Multiple ChoiceThese are also all types of credit except:car loancollege loanchecking accounthome mortgage loan
- 5. Multiple ChoiceBefore signing up for a credit card, you will want to find out...if there is an annual fee.what the interest rate is on purchases.what types of late fees could be charged.all of these are correct.
- 6. Multiple ChoiceA credit card company usually has a grace period for purchases. A grace period is...the time period after you make a purchase until the time the interest starts to get charged.the time period where interest builds on the amount you purchased.
- 7. Multiple ChoiceWhen you sign up for a credit card you will get a lengthy document explaining things, it is theleasetitleafter math documentterms of agreement
- 8. Multiple ChoiceOverspending and accumulating too much debt can ruin your credit scoreTrueFalse
- 9. Multiple ChoiceAnnual fee definitionWhen you withdraw money from the ATM and it charges you $1.50.When a credit card company charges you a fee each YEAR
- 10. Multiple ChoiceCredit scores range from _____ to _____.350, 800300, 850400, 650400,800
- 11. Multiple Choice
Ms. S's credit score is 720, according to this graph, it is considered... (hint -don't let the little man fool you)fairpoorgoodgreat - 12. Multiple ChoiceCredit scores are based on certain criteria such asreligionpayment historygenderall of these things
- 13. Multiple ChoiceCredit scores are based on certain criteria such asagegenderhow much credit card debt you havenational origin
- 14. Multiple ChoiceAn example of a secured card is aDebit cardPre-paid Visa card
- 15. Multiple ChoiceThe percentage rate (APR) charged on purchases is called:annual feeinterestbalance
- 16. Multiple ChoiceA secured card is connected to your bank account, it willnot help you build credit.will help you build credit.
- 17. Multiple ChoiceIf you withdraw cash from an ATM with your Credit Card, what happens?The grace period will begin.Interest will start to be charged right away.
- 18. Multiple ChoiceA Pre-paid credit cardis not connected to your bank account.is connected to your bank account.
- 19. Multiple ChoiceIf you file bankruptcy, it stays on your credit report for how many years?2357
- 20. Multiple ChoiceThe higher your credit score, the more likely you are to...get your dream jobget a good interest rate on a car loan.get the apartment of your dreams.all of these things.
- Answer choicesTagsAnswer choicesTags