How Broke Are You?

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| By 7gals1b
7
7gals1b
Community Contributor
Quizzes Created: 1 | Total Attempts: 913
| Attempts: 922
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  • 1/7 Questions

    Which of the following would be considered "good debt"?

    • Credit card debt
    • A mortgage
    • Cash advance loan
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About This Quiz

Find out just how broke you really are. Take this quiz to see your financial helth.

Personal Finance Quizzes & Trivia

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  • 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, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Jan 11, 2010
    Quiz Created by
    7gals1b
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