Suggestions for you
9th – 12thgrade
Life Skills
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes 1 point Using a loan could help you buy which of the following: airline tickets to your ideal vacation; a new television; a dream wedding; a house
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes 1 point When are loans a wise choice to make? To purchase a new television for a dream wedding, to pay for college, or to purchase airline tickets for a dream vacation
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes, 1 point: What should you NOT buy with a loan? A house; college tuition; plane tickets to your ideal destination; a car
- Multiple ChoicePlease save your changes before editing any questions. Which factor should I take into account when choosing a credit card? Annual Percentage Rate (APR) Fees Credit card appearance Both APR and fees
- Multiple ChoicePlease save your changes before editing any questions. Which of these factors, in 15 minutes1 point, is NOT crucial to take into account when choosing a credit card? Annual Percentage Rate (APR) Credit limit Penalties and fees
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 point When choosing a financial advisor, a credit card, a financial institution, or a credit score, it’s crucial to take into account factors like the annual percentage rate (APR), credit limit, and penalties and fees.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes, 1 point: What isn’t a benefit of having a high credit score? You’ll have more options for loans when you need them. Youll get better interest rates on your loans. It will be easier to get an apartment. Youll get accepted to better education institutions.
- Multiple ChoicePlease save your changes before editing any questions. One advantage of having a high credit score is that loan sharks will be less likely to approach you. 15 minutes, 1 point Youll get accepted to better education institutions. Youll get more job offers. There will be more loan offers available to you when you need one.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 point Getting into a better school will be simpler for you if you have a high credit score. TrueFalse.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 point Because secured loans typically have lower interest rates than unsecured loans, they are less expensive. They required collateral. They are less risky for the financial institution. All of these are true.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 point Because a secured loan requires collateral and takes longer to obtain, its cost is usually lower than that of an unsecured loan. it has high interest rates. your parents will make sure you pay it back.
- Multiple ChoicePlease save your changes before editing any questions. A higher interest rate, collateral, and lower risk for the financial institution are the features that make a secured loan less expensive than an unsecured loan. 15 minutes1 point
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 point Managing your debt sensibly is necessary to keep your credit score high. check your credit score every week. have credit monitoringhave many open credit cards.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes 1 point If you do not manage your debt responsibly, what will happen to your credit score? You won’t be able to track it; it will either rise or fall; it won’t have any effect on your credit score.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes 1 point Improper debt management can lead to: higher credit score; lower credit score; inaccessible credit score; or no change in credit score.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 point One way to guard against fraud and identity theft is to put a credit freeze on file with the credit bureaus. Monitoring your credit report every 2-3 years. allowing false information to be eliminated from your report following a seven-year period Utilizing a specialty locking or monitoring service.
- Multiple ChoicePlease save your changes before editing any questions. Which of the following, when done on a regular basis, will help you guard against fraud and identity theft? 15 minutes1 point Contact lenders and credit bureaus to address incorrect information. Freeze your credit. All of the above.
- Multiple ChoicePlease save your changes before editing any questions. Which of the following is NOT a recommended strategy to guard against identity theft? Expensive specialty locking or monitoring service (15 minutes1 pt) Place a credit freeze with the credit bureaus. Regularly monitoring your credit report. Contacting lenders and credit bureaus to report inaccurate information.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 point Paying your credit card’s minimum amount can raise your credit score and result in higher interest and late fees.
- Multiple ChoicePlease save your changes before editing any questions. The benefits of paying off your credit card in full each month include: lowering your credit score; not having to pay interest; and avoiding late fees. 15 minutes1 point Your credit score can increase.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 pointThere are several advantages to paying off your credit card balance in full each month, such as: paying more interest; lowering your credit score; avoiding late fees; and raising your credit score.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 pt To keep things simple, you should obtain a loan directly from the car dealer when you’re looking for pre-approval for one. select the loan that has the longest repayment period. Examine several pre-approval offers and choose the most suitable one for you.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 Point: To keep things easy, don’t get a loan directly from the car dealer when you’re looking for pre-approval. Instead, look for the lowest interest rates available. Choose a loan with the appropriate payback duration for you. Examine several pre-approval offers and choose the most suitable one for you.
- Multiple ChoicePlease save your changes before editing any questions. 15 minutes1 pt It’s a great idea to go straight to a car dealer for a loan to keep things simple because they want you to buy the car, so they’ll make you the best offer. not great because they typically offer higher interest rates. fantastic idea as it saves you from having to deal with a different lender not great because car deals dont offer loans.
- Multiple ChoicePlease save your changes before editing any questions. A financial institution may offer you the option to make partial payments now and the remaining balance due on your next pay day. 15 minutes1 pt What option will NOT be available if you are behind on loan payments? You can borrow money from your friends and family. You can ask to get out of your loan. You may be able to stop the loan from your financial institution, but you will still be responsible for the interest.
- Explore all questions with a free accountAlready have an account?
Suggestions for you
FAQ
What should you not use a loan to purchase?
Loans should never be used for investments, monthly bills, weddings, vacations, or other luxuries as they can quickly result in excessive debt.
Which of these items is not important to consider when selecting a credit card?
The Annual Percentage Rate (APR), credit limit, and other costs and penalties should all be taken into account when choosing a credit card. But the credit card’s appearance isn’t a crucial consideration.
Which type of loan is not backed by collateral quizlet?
A loan that is issued and guaranteed solely by the borrower’s creditworthiness without the use of collateral is known as an unsecured loan.
Which of the following is not a feature that makes a secured loan less costly?
Expert-Verified Answer. A high interest rate is one feature that does not make a secured loan less expensive than an unsecured loan. A secured loan is one that is supported by personally owned assets, including homes, vehicles, and other real estate. These assets serve as the collateral over the loan.
Read More :
https://quizlet.com/582742438/lesson-5-credit-and-debt-flash-cards/
https://quizizz.com/admin/quiz/5da71703ed67d3001af91c4f/creditdebit-everfi