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Credit Crunch: Definition & Causes

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

question 1 of 3

Which of the following led to the credit crunch in 2008?

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1. During a credit crunch, which of the following is true?

2. Which of the following was a contributor to the 2008 credit crunch?

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About This Quiz & Worksheet

Our handy worksheet/quiz combo tests your knowledge regarding the difference between direct and indirect speech. When taking this quiz, you'll be asked questions about the characteristics that define a credit crunch, as well as some of the factors and issues that contributed to the credit crunch of 2008.

Quiz & Worksheet Goals

Our quiz checks your ability to:

  • Explain what led to the credit crunch of 2008
  • Describe the characteristics of a credit crunch
  • Detail what factors contributed to the 2008 credit crunch
  • Name the entity that failed to fully regulate sub-prime loans, leading to the credit crunch

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related credit crunch lesson
  • Knowledge application - use your knowledge to answer questions about what caused the credit crunch of 2008
  • Information recall- access the knowledge you've gained regarding the characteristics of a credit crunch

Additional Learning

It's easy to learn more about the causes and definitions associated with credit crunches by using our engaging lesson called Credit Crunch: Definition & Causes. This short lesson covers all the material on the quiz, plus the following objectives:

  • Explain what lenders did to mask the sub-prime risk factor before the 2008 credit crunch
  • Detail what happened to regulations in the banking industry leading up to 2008
  • Describe what happened to home ownership rates after the credit crunch
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