8
practice testMultiple Choice

Practice Test

Question 8 • CMS 2026-2027 Economics and Personal Finance INITIAL CREDIT

Yuri wants to pay for his new chair using a check. What must he consider before using that method of payment?

Answer
A
Yuri must know the interest rate on a furniture loan.
B
Yuri must check his credit card balance.
C
Yuri must check his credit history.
D
Yuri must be sure he has enough left in his checking account for any expenses and automatic payments.

Explanation

Before paying by check, Yuri should make sure there is enough money in his checking account to cover the chair, as well as any other expenses or automatic payments due. Otherwise, the check could overdraw the account or be returned unpaid. The interest rate on a loan and a credit card balance do not determine whether he can pay by check.

AI-written and checked against the verified answer.

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