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12th Grade Financial System Quizzes, Questions & Answers

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This quiz is a supplementary to http://www.creditgogetter.info, an informational website containing basic knowledge on personal credit and finance for high school students.

Questions: 11  |  Attempts: 154   |  Last updated: Mar 20, 2025
  • Sample Question
    If the balance of your credit card is $10,000, the bank charges you with a 17% interest rate, and the minimum payment is 4% of the outstanding balance, how much interest will you be charged in total if you only pay the required minimum payment every month before you pay off?
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Knowing your financial position and manipulating it to your favor is something wise. When it comes to credit, ignorance can be expensive! A person may take up too much credit and find that they cannot sustain their life. Take...

Questions: 20  |  Attempts: 2634   |  Last updated: Mar 21, 2025
  • Sample Question
    Matt and Eric are young men. Each has a good credit history. They work at the same company and make approximately the same salary. Matt has borrowed $6,000 to take a foreign vacation. Eric has borrowed $6,000 to buy a car. Who is likely to pay the lowest finance charge?
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Quiz 2 covers key financial topics including strategies used by credit card companies, selecting credit cards, benefits of high credit scores, consequences of late payments, cash advances, and importance of rewards. It assesses...

Questions: 46  |  Attempts: 231   |  Last updated: Mar 19, 2025
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    What strategy (ies) do credit card companies use to market their product and to make them more appealing?
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Generation X—those born between 1965 and 1980 who are in their 30s and 40s today—doesn't get the same attention in the media as do the younger millennials or the retiring baby boomers. But its place in the...

Questions: 7  |  Attempts: 694   |  Last updated: Mar 18, 2025
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    True or false: Most Gen Xers have higher family income than their own parents did at the same age.
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