Question 1

What is another word for money that is owed to someone else?

Accepted Answer

Debt

Answer

Default

Answer

Gift

Answer

Credit

Question 2

What is credit?

Accepted Answer

Money that is lent or given to you and must be paid back often with interest.

Answer

Capital

Answer

Money that you earn from a job.

Answer

Debit

Question 3

What is interest?

Accepted Answer

A fee for borrowing money.

Answer

A form from the bank.

Answer

A special account for student loans.

Answer

A reward for paying your bills on time.

Question 4

What is a credit history?

Accepted Answer

A public record of your payment and borrowing responsibility.

Answer

An extra credit report for your History teacher.

Answer

A statement from the bank that includes your grades in school.

Answer

A fee you pay each month to a bank for having a debit card.

Question 5

True or False..."Debit Cards" and "Credit Cards" are the same thing.

Accepted Answer

False

Answer

True

Question 6

If you miss a payment or stop paying your debt, you would most likely receive a...

Accepted Answer

penalty

Answer

party

Answer

pension

Answer

pardon

Question 7

A person (or company) that changes excessive interest rates are often called...

Accepted Answer

loan sharks

Answer

baby sharks

Answer

loan tigers

Answer

credit sharks

Question 8

To default on your debt means to ...

Accepted Answer

stop making payments on your debt.

Answer

pay off all of your debt.

Answer

give your debt away.

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