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Social Studies Finance Answer Check
2 Answers
1. If a consumer makes monthly payments of $250 to pay off a car loan, what type of credit is she using?
A) Non-Revolving
B) Revolving
C) Short Term
D) Unsecured
2. Caitlin wants to buy an airline ticket, but she's uncomfortable taking that much cash to the counter at the airport. Instead, she uses her credit card. Which advantage of credit is being demonstrated here?
A) Emergencies
B) Building a credit line
C) Protection of purchases
D) Purchase Power
3. Which is an example of a variable expense category?
A) Car payment
B) Gym membership
C) Birthday gifts
D) Insurance
4. What is a benefit of using a financial tool to track your budget?
A) It provides you discounts for the things you buy most often
B) It gives you a visual of your income and expenses
C) It keeps all of your personal information protected
D) It makes banks more likely to offer you low interest rates
I think
1) A
2) C
3) D
4) B
A) Non-Revolving
B) Revolving
C) Short Term
D) Unsecured
2. Caitlin wants to buy an airline ticket, but she's uncomfortable taking that much cash to the counter at the airport. Instead, she uses her credit card. Which advantage of credit is being demonstrated here?
A) Emergencies
B) Building a credit line
C) Protection of purchases
D) Purchase Power
3. Which is an example of a variable expense category?
A) Car payment
B) Gym membership
C) Birthday gifts
D) Insurance
4. What is a benefit of using a financial tool to track your budget?
A) It provides you discounts for the things you buy most often
B) It gives you a visual of your income and expenses
C) It keeps all of your personal information protected
D) It makes banks more likely to offer you low interest rates
I think
1) A
2) C
3) D
4) B
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