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Credit Basics Quiz: Test Your Knowledge on A Fresh Start

Test your understanding of credit concepts in Lesson 3: A Fresh Start. Answer multiple-choice questions to check your knowledge on credit arrangements and opportunity costs.

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Credit Basics Quiz: Test Your Knowledge on A Fresh Start

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  1. Test Your KnowledgeLesson 3: A Fresh Start

    Click on the letter of your choice to test your understanding.
  2. Question 1 Credit is an arrangement whereby
  3. Question 2 The opportunity cost of using credit is the
  4. Question 3 The type of credit that you get when a lender allows you to borrow an amount for a specific purpose for a specific amount of time at a given interest rate is called
  5. Question 4 The price that you pay for the use of money you borrow from a lender is called
  6. Question 5 The annual percentage rate (APR) is
  7. Question 6 A credit card is
  8. Question 7 A credit report is
  9. Question 8 Also known as your “financial GPA,” a credit score is
  10. Question 9 The two components that make up the greatest percentage of the total credit score are
  11. Question 10 Having an accurate credit report is important because

  12. Thank you for participating in “Test Your Knowledge”

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