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Unit 11: The Bottom Line On Borrowing Lesson 34: Credit And Credit Cards Module 118: Credit Cards Vs. Debit Cards
Test Description: Unit 11: The Bottom Line on Borrowing Lesson 34: Credit and Credit Cards Module 118: Credit Cards vs. Debit Cards
Instructions: Answer all questions to get your test result.
1) a ____________, the amount is deducted immediately from his checking account.
A
Credit Card
B
debit card
C
ATM card.
D
60 days
2) If you do not pay the credit card company the full amount of your bill, the money you owe is the
A
Grace period
B
balance
C
Credit Card
D
Limit
3) Advantages of Using a Credit Card and making regular monthly payments
A
Establishing Credit
B
Networth
C
interest
D
debit card
4) This fee is charged to customers when they write a check for more than they have in their checking accounts; this is also known as a bounced check fee.
A
Overdrawn account account fee
B
Interets
C
Returned check fees
D
ATM card.
5) How can you minimize the risk of someone stealing your information and using your card? Guard your information! Shred any papers (such as college application drafts) that have your ______________
A
credit card cash advance
B
Social Security number or Pin number
C
Carry a balance:
D
Overdraft fee
6) When you make a purchase with a _____________, you do not have to pay back the money until your monthly credit card bill is due—in between the time you make a credit card purchase and the date when your bill is due, your money remains in your checkin
A
PIN Number
B
Credit line (also referred to as credit limit)
C
Social Security number
D
credit card
7) When you pay with a __________, your are making a unsecured loan, is considered revolving
A
debit card
B
Credit Card
C
60 days
D
ATM card.
8) Your debit card is also your _______________ It is sometimes called a bank card or check card.
A
Piggy Bank
B
FED
C
ATM card.
D
Bull Market
9) If your Debit Card is lost, if you do not notify your bank within _______________, you are liable for the entire loss.
A
$50
B
1 day
C
No need to contact the bank
D
60 days
10) You can often use your credit card to obtain cash at an ATM, but you usually have to pay a _____________
A
cash advance fee.
B
Credit Card
C
$500
D
Debit card
*select an answer for all questions
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