Login
Copyright

Credit & Debt in Personal Finance

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Financing, or money that can be borrowed, is called _____.

Start Your Free Trial To Take This Quiz

As a member, you'll also get unlimited access to over 35,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Free 5-day trial
It only takes a few minutes to set up and you can cancel at any time.
Already registered? Login here for access

1. An expense, or money owed, is called _____.

2. What happens to credit once it is used?

Start your free trial to access this entire worksheet
A premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

The quiz and worksheet will measure your understanding of credit and debt. Some of the subjects you will need to understand in order to successfully complete the quiz include what happens when the full balance of a credit card is paid and what happens when credit is used.

Quiz & Worksheet Goals

Utilize the following worksheet and quiz to comprehend:

  • The term referring to an amount of money that is owed
  • What happens when a credit card is paid in full
  • When a debt is repaid to a car dealership
  • Borrowing money
  • What happens when credit is used

Skills Practiced

The following abilities will be evaluated in the quiz and worksheet:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on credit and debt
  • Knowledge application - use your knowledge to answer a question about the amount of money that is owed to an institution
  • Information recall - access the knowledge you've gained regarding the act of borrowing money from an institution

Additional Learning

To understand information about personal finance, review the related lesson called Credit & Debt in Personal Finance. The lesson includes the following objectives:

  • Identify the difference between credit and debt
  • Learn about how financial institutions determine the use of credit
  • Review the benefits and consequences of credit, such as interest rates
  • Recall the benefits and consequences of debt
Support