Have an account?
Skip to Content
Build your own quiz
20 questions
Show Answers
See Preview
- 1. Multiple ChoiceSomething a bank or financial institution makes and charges you interest?timeLoanratesales tax
- 2. Multiple ChoiceThis is added to the selling price and pays the Government?timeratesales taxinterest
- 3. Multiple ChoiceA sum paid or charged for the use of moneyinteresttimesales taxprincipal
- 4. Multiple ChoiceYou must have insurance on your vehicle?truefalse
- 5. Multiple ChoiceYou will need a drivers license and a vehicle registration to operate your car?truefalse
- 6. Multiple ChoiceWhen getting a car loan you will want to get the highest or the lowest interest rate?lowesthighest
- 7. Multiple ChoicePurchasing a car on a loan through the bank or dealership is called:franchisingfinancingamortizingloaning
- 8. Multiple ChoiceBrenda's bank offers car financing for 3, 4, or 5 years. If Brenda chooses 5-year financing, how many monthly payments will she have?60483612
- 9. Multiple ChoiceWhat would the monthly payment be on a purchase of a $10,000 car at 5.9% for 4 years?$239.34$234.39$212.50$250.00
- 10. Multiple ChoiceWhat would happen to a monthly payment if the interest rate increased?The payment would go up.The payment would go down.The payment would remain the same.None of the above.
- 11. Multiple ChoiceWhich of the following has no effect on the monthly payment?Interest RateDown PaymentNumbers of months the car is expected to be financedLength of buyer's driving record
- 12. Multiple ChoiceJaclyn has decided to purchase an $11,000 car. She pans on putting $1000 down towrd the purchase, and financing the rest at 4.8% interest rate for 3 years. Find her monthly payment.$226.54$236.89$204.78$298.81
- 13. Multiple ChoiceAn increase in which of the following will decrease the monthly payment?Interest rateDown paymentPrincipalNone of the Above
- 14. Multiple ChoiceOmar has decided to purchase a $11,000 car. He plans on putting 20% down toward the purchase, and financing the rest at 4.8% interest rate for 3 years. Find his monthly payment.$262.95$236.89$204.78$298.81
- 15. Multiple ChoiceIf you put down 20% on a $7000 car and pay monthly payments of $109.40 for 60 months, what is the total price of the car?$7262.95$7236.89$7204.78$7964.00
- 16. Multiple ChoiceThe cost of credit expressed as a yearly interest rate:APRCredit LimitAnnual FeeIntroductory Rate
- 17. Multiple ChoiceThe maximum amount of charges allowed to an account:APRCredit LimitAnnual FeeIntroductory Rate
- 18. Multiple ChoiceHow can you avoid paying interest fees on your credit card?Only use it for groceries.Pay off the full balance on time, each month.You cannot avoid interest fees.Only use contactless payment.
- 19. Multiple ChoiceWhich one is NOT a benefit of having a credit card?Raises standard of living.ConvenientInterestIncreases financial options.
- 20. Multiple ChoiceThe amount you must pay on your credit card each month is called a(n):Available Credit AmountMinimum PaymentInterest RateCash Advance
- Answer choicesTagsAnswer choicesTags