Have an account?
Skip to Content
Build your own quiz
20 questions
Show Answers
See Preview
- 1. Multiple Choice1. Which of the following payment types require you to pay upfront?a. Money orderb. Cashier's checkc. Pre-paid cardd. All of the above
- 2. Multiple Choice2. Which of the following is true?a. Checks and Debit Cards both withdraw money directly from a bank account.b. Checks are the most widely accepted form of paymentc. Debit Cards often have a higher interest rate than Credit Cards.d. Debit cards offer the highest level of fraud protection.
- 3. Multiple Choice3. Which of the following statements comparing debit cards to credit cards is TRUE?a. Debit cards allow you to draw funds directly from your checking account.b. Debit cards typically offer greater fraud protection than credit cards.c. Debit cards never require a signature to finalize a purchase like credit cards.d. Debit cards charge higher interest rates on purchases than credit cards.
- 4. Multiple Choice4. Which of the following is NOT true of credit cards?a. They offer the highest level of fraud protection.b. They are the best payment type to use when trying to stick to a budget.c. You can be charged a fee if you are late making a monthly payment.d. Some offer rewards, like cash back or airline miles.
- 5. Multiple Choice5. Which payment method typically charges the highest interest rates?a. Credit cardsb. Cashier's checksc. Pre-paid cardsd. Payday loans
- 6. Multiple Choice6. Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month?a. Late Feeb. Annual Membership Feec. Balance Transfer Feed. Annual Percentage Rate
- 7. Multiple Choice7. Which payment type can help you stick to a budget?a. Credit cardsb. Debit cardsc. Payday loansd. Cash advances
- 8. Multiple Choice8. Which of the follow will happen if you miss a monthly credit card payment?a. You will be charged a late feeb. You lose reward pointsc. Your APR will increase the next monthd. Both A and B
- 9. Multiple Choice9. If you are planning to carry a large balance on your credit card, which of the following credit card features should you look for?a. Low APRb. Low balance transfer feec. Lots of credit card rewardsd. A large credit limit
- 10. Multiple Choice10. What is a credit limit?a. The required payment to your credit card company.b. The amount of interest you are charged each month.c. The maximum amount you can charge each billing cycle.d. How many credit cards you can own.
- 11. Multiple Choice11. The annual percentage rate on a credit card determines _______.a. the amount of interest you are charged on credit card purchasesb. the amount your credit limit can go up within a yearc. how many credit cards you can ownd. None of the above
- 12. Multiple Choice12. What is the amount of money you still owe to their credit card company called?a. Credit Card Interestb. Credit Card Balancec. Credit Card Limitd. Credit Card Fee
- 13. Multiple Choice13. Making a credit card minimum payment:a. Means you are paying a small portion of your total credit card debtb. Is the same thing as making a late credit card paymentc. Will have a negative effect on your credit scored. Will cause your credit card to be cancelled
- 14. Multiple Choice14. Which of the following is true of both paying with a check and paying with a debit card?a. Both are accepted by most people and most businesses.b. A personal identification number must be anytime checks or debit cards are used.c. When used, both take money directly out of a bank account.d. Both work like a loan from your bank that you can pay back later.
- 15. Multiple Choice15. Which of the following can increase your credit card�s APR?a. Paying the minimumb. Missing a credit card paymentc. Paying off the full balanced. Cashing in on rewards points
- 16. Multiple Choice16. The amount of money you can charge to a credit card is called:a. Annual Percentage Rateb. Balance Transferc. Credit Limitd. Annual Fee
- 17. Multiple Choice17. What is a credit card balance?a. The amount of interest you must pay the credit card companyb. The required minimum payment to your credit card companyc. A way to track your incoming and outgoing purchasesd. The amount of money you still owe to the credit card company
- 18. Multiple Choice18. Which of the following are true if you pay only the minimum amount each month towards your credit card bill?a. You will be charged interest on your remaining balance.b. Your Annual Percentage Rate will increase.c. You may be in debt for a long time.d. Both A and B are true.
- 19. Multiple Choice19. Which of the following is NOT a common credit card fee?a. Late feeb. Annual membership feec. Balance transfer feed. Minimum payment fee
- 20. Multiple Choice20. Which payment type is best if you are trying to stick to a budget?a. Credit Cardb. Debit Cardc. Cash Advanced. Payday Loan
- Answer choicesTagsAnswer choicesTags