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Trivia On Personal Finance: MCQ Quiz

Question 1 of 3

Q1 . Why is it important to have good credit?

A To be eligible for a job.

B To buy a car and get auto insurance.

C To rent an apartment or buy a house.

D All of the above.

Q2 . How can you maintain good credit?

A Pay at least the minimum payments of all your bills on time.

B Ask your parents to pay your bills for you.

C Use all your available credit on all accounts.

D All of the above.

Q3 . What do lenders look for before they lend you money?

A What kind of grades you earn.

B Whether or not you pay your bills on time (your credit history).

C Your intended date of graduation.

D All of the above.

Q4 . What should you do if you're having trouble paying your credit card bills?

A Borrow money from friends or your parents.

B Use another credit card to pay them off.

C Speak with a family member, friend, or other advisor, and work with your creditors to determine how you can best repay your obligations.

D All of the above.

Q5 . Which of the following may request your credit score from a credit bureau?

A Insurance companies.

B Your employer.

C Your renter or mortgage company

D All of the above.

Q6 . How can you build a good credit history?

A Only use your credit card when you know you can afford to use it.

B Be reliable, stay within your affordable budget.

C Establish other forms of credit—like a checking account, debit card and car payments—that can help demonstrate that you are responsible.

D All of the above.

Q7 . What is interest?

A The money the credit card company pays to the people who have the credit cards.

B The amount of people who want to get the credit card.

C The money a person pays to the credit card company on top of the money that is already owed.

D The amount of money a lender will allow you to have

E None of the Above

Q8 . What is a credit card?

A A loan that has to be paid off every month.

B An arrangement by which you can buy something now, with the promise that you will pay for it in the future.

C A money substitute for items you cannot afford.

D All of the above.

Q9 . What is the difference between an Express store credit card and a general credit card?

A The general credit card has lower interest rates than the express store credit card.

B The express store credit card has lower interest rates than a general credit card.

C The express store credit card can be used anywhere while the general credit card can only be used at specific stores

D The express store credit card can only be used at express while a general credit card can be used anywhere.

E There is no difference.

Q10 . What are the advantages of having a credit card?

A It takes all the worry out of buying things, because you know the money will be there when you need it.

B You don't have to carry cash or wonder whether someone will accept your check.

C It doesn't cost anything to use it.

D All of the above.

Q11 . Why is it important to have good credit?

A To be eligible for a job.

B To buy a car and get auto insurance.

C To rent an apartment or buy a house.

D All of the above.

Q12 . How can you maintain good credit?

A Pay at least the minimum payments of all your bills on time.

B Ask your parents to pay your bills for you.

C Use all your available credit on all accounts.

D All of the above.

Q13 . What do lenders look for before they lend you money?

A What kind of grades you earn.

B Whether or not you pay your bills on time (your credit history).

C Your intended date of graduation.

D All of the above.

Q14 . What should you do if you're having trouble paying your credit card bills?

A Borrow money from friends or your parents.

B Use another credit card to pay them off.

C Speak with a family member, friend, or other advisor, and work with your creditors to determine how you can best repay your obligations.

D All of the above.

Q15 . Which of the following may request your credit score from a credit bureau?

A Insurance companies.

B Your employer.

C Your renter or mortgage company

D All of the above.

Q16 . How can you build a good credit history?

A Only use your credit card when you know you can afford to use it.

B Be reliable, stay within your affordable budget.

C Establish other forms of credit—like a checking account, debit card and car payments—that can help demonstrate that you are responsible.

D All of the above.

Q17 . What is interest?

A The money the credit card company pays to the people who have the credit cards.

B The amount of people who want to get the credit card.

C The money a person pays to the credit card company on top of the money that is already owed.

D The amount of money a lender will allow you to have

E None of the Above

Q18 . What is a credit card?

A A loan that has to be paid off every month.

B An arrangement by which you can buy something now, with the promise that you will pay for it in the future.

C A money substitute for items you cannot afford.

D All of the above.

Q19 . What is the difference between an Express store credit card and a general credit card?

A The general credit card has lower interest rates than the express store credit card.

B The express store credit card has lower interest rates than a general credit card.

C The express store credit card can be used anywhere while the general credit card can only be used at specific stores

D The express store credit card can only be used at express while a general credit card can be used anywhere.

E There is no difference.

Q20 . What are the advantages of having a credit card?

A It takes all the worry out of buying things, because you know the money will be there when you need it.

B You don't have to carry cash or wonder whether someone will accept your check.

C It doesn't cost anything to use it.

D All of the above.

Q21 . Why is it important to have good credit?

A To be eligible for a job.

B To buy a car and get auto insurance.

C To rent an apartment or buy a house.

D All of the above.

Q22 . How can you maintain good credit?

A Pay at least the minimum payments of all your bills on time.

B Ask your parents to pay your bills for you.

C Use all your available credit on all accounts.

D All of the above.

Q23 . What do lenders look for before they lend you money?

A What kind of grades you earn.

B Whether or not you pay your bills on time (your credit history).

C Your intended date of graduation.

D All of the above.

Q24 . What should you do if you're having trouble paying your credit card bills?

A Borrow money from friends or your parents.

B Use another credit card to pay them off.

C Speak with a family member, friend, or other advisor, and work with your creditors to determine how you can best repay your obligations.

D All of the above.

Q25 . Which of the following may request your credit score from a credit bureau?

A Insurance companies.

B Your employer.

C Your renter or mortgage company

D All of the above.

Q26 . How can you build a good credit history?

A Only use your credit card when you know you can afford to use it.

B Be reliable, stay within your affordable budget.

C Establish other forms of credit—like a checking account, debit card and car payments—that can help demonstrate that you are responsible.

D All of the above.

Q27 . What is interest?

A The money the credit card company pays to the people who have the credit cards.

B The amount of people who want to get the credit card.

C The money a person pays to the credit card company on top of the money that is already owed.

D The amount of money a lender will allow you to have

E None of the Above

Q28 . What is a credit card?

A A loan that has to be paid off every month.

B An arrangement by which you can buy something now, with the promise that you will pay for it in the future.

C A money substitute for items you cannot afford.

D All of the above.

Q29 . What is the difference between an Express store credit card and a general credit card?

A The general credit card has lower interest rates than the express store credit card.

B The express store credit card has lower interest rates than a general credit card.

C The express store credit card can be used anywhere while the general credit card can only be used at specific stores

D The express store credit card can only be used at express while a general credit card can be used anywhere.

E There is no difference.

Q30 . What are the advantages of having a credit card?

A It takes all the worry out of buying things, because you know the money will be there when you need it.

B You don't have to carry cash or wonder whether someone will accept your check.

C It doesn't cost anything to use it.

D All of the above.

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