Please take into account the following points before starting
There will be several questions with increasing difficulty.
There is only one correct answer for each question.
You only have a few minutes to complete the test.
You can skip questions and answer them later.
Unanswered questions will count as errors.
Have you created a budget?
Yes
No
Partially
1/20
Do you know your total debt?
Yes
No
Estimate
2/20
Have you contacted your creditors?
Yes
No
Planning to
3/20
Have you considered a debt consolidation loan?
Yes
No
Unsure
4/20
Are you making minimum payments on all debts?
Yes
No
Sometimes
5/20
Have you explored debt management plans?
Yes
No
Don't know
6/20
Have you considered bankruptcy?
Yes
No
As a last resort
7/20
Have you cut unnecessary expenses?
Yes
No
Partially
8/20
Have you increased your income?
Yes
No
Trying to
9/20
Do you have an emergency fund?
Yes
No
Working on it
10/20
What is the first step in creating a debt management plan?
Assess debt
Increase income
Ignore debt
11/20
Which debt should be prioritized for repayment?
Highest interest rate
Lowest balance
Oldest debt
12/20
What is a common strategy to reduce monthly debt payments?
Debt consolidation
Increase spending
Default on loans
13/20
How can creating a budget help manage debt?
Track spending
Increase spending
Ignore finances
14/20
What is the purpose of a credit score?
Assess creditworthiness
Determine income
Measure savings
15/20
What is a common consequence of high-interest debt?
Reduced financial flexibility
Increased savings
Improved credit score
16/20
How can bankruptcy affect future borrowing?
Make it more difficult
Make it easier
Have no impact
17/20
What is a common cause of debt?
Overspending
Underestimating expenses
Lack of income
18/20
What is the role of a credit counselor?
Provide financial advice
Lend money
Collect debts
19/20
How can automating payments help manage debt?
Reduce late fees
Increase spending
Avoid budgeting
20/20
Are you sure you want to finish the test?"
Close
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