Credit Literacy Review
Authored by Jeannie Lorene Conner
Business
11th Grade
Used 1+ times
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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an advantage of using credit?
interest and fees
purchasing power
finance charges
overspending
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term means how trusted you are to repay borrowed money?
open-end credit
credit risk
creditworthiness
FICO
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is not a part of your credit score?
length of credit history
payment history
total amount that you owe
high school grades
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you have a good credit score, you are more likely to be offered:
a job over another candidate
loans with better terms
low rates on car insurance
all of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An agreement to receive a service now and pay for it later
service credit
open-end credit
closed-end credit
credit report
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After paying off the balance, which type of credit remains open to be used again?
open-end credit
service credit
closed-end credit
finance charged credit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Having good credit means you are a low-risk borrower.
True
False
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