Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
Give this quiz to my class
Q 1/30
Score 0
A car loan is an example of a closed-end credit.
60
True
False
Q 2/30
Score 0
Your debt to income ratio should be high.
60
False
True
30 questions
Q.
A car loan is an example of a closed-end credit.
1
60 sec
Q.
Your debt to income ratio should be high.
2
60 sec
Q.
The best way to use credit is
3
60 sec
Q.
Consumer credit is the use of credit for business needs.
4
60 sec
Q.
A secured loan is one guaranteed to be repaid through collateral.
5
60 sec
Q.
Inflation increases the purchasing power of money.
6
60 sec
Q.
Equifax is a credit bureau.
7
60 sec
Q.
When you cosign a loan for a friend, you may be responsible to make loan payments if the other person fails to.
8
60 sec
Q.
If you file for Chapter 7 Bankruptcy, you will have to sell/liquidate most of your assets.
9
60 sec
Q.
One sign of debt problems is using and paying off your credit cards every month.
10
60 sec
Q.
An example of open-end credit is a(n)
11
60 sec
Q.
An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term
12
60 sec
Q.
Credit card holders are known as convenience users when they
13
60 sec
Q.
The total dollar amount you pay to use credit is the
14
60 sec
Q.
An additional person who is considered for a line of credit and shares responsibility for a loan is called
15
60 sec
Q.
Which of the "five Cs of credit" require that a person's assets (OWN) exceed his or her liabilities (OWE)?
16
60 sec
Q.
A credit bureau is required to follow reasonable procedures to make sure that
17
60 sec
Q.
The cost of borrowing money is
18
60 sec
Q.
The Consumer Credit Counseling Service offers to
19
60 sec
Q.
In a Chapter 13 bankruptcy, the debtor usually gets to
20
60 sec
Q.
What is the maximum amount of money a creditor will allow a credit user to borrow?
21
60 sec
Q.
The cost of credit on a yearly basis, expressed as a percentage?
22
60 sec
Q.
Form of security to help guarantee that a creditor will be repaid?
23
60 sec
Q.
What is the income a person receives after deductibles such a s taxes?
24
60 sec
Q.
The measure of a person's ability to make credit payments on time?
25
60 sec
Q.
The organization that loans you money or extends credit to you is called?
26
60 sec
Q.
The ability to borrow money continuously for a variety of goods and services up to a limit set by the company issuing the credit
27
60 sec
Q.
A last resort legal process in which some or all of the assets of a debtor are distributed among creditors because the debtor is unable to pay his or her debts
28
60 sec
Q.
An advantage to using credit is
29
60 sec
Q.
A time period during which no finance charges are added to a credit card account?
