How Broke Are You?
-
Which of the following would be considered "good debt"?
-
Credit card debt
-
A mortgage
-
Cash advance loan
-
Find out just how broke you really are. Take this quiz to see your financial helth.
Quiz Preview
- 2.
If you have a revolving credit account, credit card companies prefer that you:
-
Pay your entire balance to them every month
-
Pay most of your balance off every month
-
Pay only the minimum payment to them every month
Rate this question:
-
- 3.
What does it mean for debt to be unsecured?
-
Debt under a consolidation loan
-
Debt that a company believes is unlikely to be paid back
-
Debt not backed by collateral
Rate this question:
-
- 4.
Which of the following is NOT a benefit of debt settlement?
-
It will eliminate your debt.
-
You can pay less than what you owe.
-
It won't hurt your credit.
Rate this question:
-
- 5.
Which of the following is NOT a likely benefit of consolidating your loans?
-
It will get you a lower interest rate.
-
It will get you out of debt faster.
-
It will simplify your debt payments.
Rate this question:
-
- 6.
Under the Fair Debt Collection Practices Act (FDCPA), which of the following is a debt collector allowed to do?
-
Threaten to sue you
-
Send you a postcard
-
Sue you
Rate this question:
-
- 7.
Which of the following should be considered a last resort to debt problems?
-
Bankruptcy
-
Debt settlement
-
Debt consolidation loan
Rate this question:
-
Quiz Review Timeline (Updated): Mar 15, 2024 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Mar 15, 2024Quiz Edited by
ProProfs Editorial Team -
Jan 11, 2010Quiz Created by
7gals1b
Back to top