Share CREDITS - LIFE SKILLS 2BGU
Save to Folder
Tell us 1 advantage of having a credit
...
Tell us 1 disadvantage of having a credit
...
What does the term "Credit" refer to?
Money you owe
Money you earn
Money you lend
Money you save
Who is a "Borrower"?
A person who earns money
A person who saves money
A person who owes money
A person who lends money
What is a "Lender"?
A person who earns money
A person who saves money
A person who lends money
A person who owes money
What is "Interest"?
The cost of borrowing money
Money borrowed
The total income of a person
Money owed
What does the term "Credit" mean in financial terms?
Money you owe
Money you lend
Money you earn
Money you save
When you use a credit card to make a purchase, you are essentially:
Borrowing money from the bank
Spending your own money
Investing in stocks
Borrowing money from a friend
Which of the following is an example of a credit account?
A savings account
A loan from a bank
A piggy bank
A checking account
What is a "credit score" used for?
Measuring your physical fitness
Rating your cooking skills
Determining your favorite color
Evaluating your borrowing risk
When you make timely payments on a credit card, what can happen to your credit score?
It decreases
It becomes colorful
It improves
They give you free money
Which term refers to the maximum amount of credit a lender is willing to extend to a borrower?
Credit limit
Interest rate
Savings goal
Withdrawal fee
What is the consequence of missing a credit card payment?
Your credit score improves
You get into jail :(
Your credit score may decrease
You receive a free gift
What type of interest do you typically pay when you borrow money using credit?
Zero Interest
None of the above
Positive interest
Compound interest
Which financial institution is commonly associated with providing credit to consumers?
Bank
Library
High School
Grocery store
What should you consider before applying for credit?
The weather forecast
Your horoscope
Your creditworthiness and ability to repay
Your favorite financial movie
