Study

CREDITS - LIFE SKILLS 2BGU

  •   0%
  •  0     0     0

      Back   Restart
  • What is a "secured" credit card?
    A card that requires collateral
    A card with no credit limit
    A card that can only be used in one store
    A card that offers free gifts
  • Tell us 1 advantage of having a credit
    ...
  • Which of the following is an example of a credit account?
    A savings account
    A loan from a bank
    A checking account
    A piggy bank
  • What does the term "Credit" refer to?
    Money you lend
    Money you save
    Money you earn
    Money you owe
  • When you make timely payments on a credit card, what can happen to your credit score?
    They give you free money
    It decreases
    It becomes colorful
    It improves
  • What type of interest do you typically pay when you borrow money using credit?
    Zero Interest
    None of the above
    Compound interest
    Positive interest
  • What does the term "Credit" mean in financial terms?
    Money you lend
    Money you earn
    Money you owe
    Money you save
  • What is a "Lender"?
    A person who lends money
    A person who earns money
    A person who saves money
    A person who owes money
  • What should you consider before applying for credit?
    The weather forecast
    Your favorite financial movie
    Your horoscope
    Your creditworthiness and ability to repay
  • Tell us 1 disadvantage of having a credit
    ...
  • What does the phrase "annual percentage rate (APR)" represent?
    The interest rate plus any fees on a loan
    The cost of groceries
    The total income of a person during a year
    The amount you owe on your credit card in a year
  • Which of the following is NOT a common type of credit?
    Grant ("Bono")
    Auto loan
    Student loan
    Mortgage ("Hipoteca")
  • What is "Interest"?
    The cost of borrowing money
    The total income of a person
    Money owed
    Money borrowed
  • What is a "credit score" used for?
    Evaluating your borrowing risk
    Measuring your physical fitness
    Rating your cooking skills
    Determining your favorite color
  • What is the consequence of missing a credit card payment?
    Your credit score may decrease
    Your credit score improves
    You get into jail :(
    You receive a free gift
  • Which financial institution is commonly associated with providing credit to consumers?
    Grocery store
    High School
    Bank
    Library
  • Which action can help you build a positive credit history?
    Keeping credit card balances high
    Making on-time payments
    Ignoring your credit report
    Missing payments
  • Which term refers to the maximum amount of credit a lender is willing to extend to a borrower?
    Credit limit
    Interest rate
    Withdrawal fee
    Savings goal
  • What is the term for the fee charged by a lender for borrowing money?
    Interest
    Donation
    Discount
    Bonus
  • Who is a "Borrower"?
    A person who owes money
    A person who lends money
    A person who saves money
    A person who earns money
  • When you use a credit card to make a purchase, you are essentially:
    Spending your own money
    Borrowing money from the bank
    Borrowing money from a friend
    Investing in stocks
    • Your experience on this site will be improved by allowing cookies.