H&R Block Budget Challenge QUIZ
2025 Questions and Answers
Select the most likely consequence of making payments late to a card that has an
introductory rate - --Answer --Fees and paying the default interest rate on
the balance
Zach is an authorized user on his parents' credit card. What may happen if Zach
doesn't use the card in a responsible way? - --Answer --Zach and Zach's
parents' credit may be damaged
If the typical balance on Lucy's credit card is is $650 and the interest rate (APR) on
her credit card is 18%, how much in interest would you expect Lucy to be changed
in a typical month? - --Answer --About $9.75
Suppose you have two credit cards. The first has a balance of $410 and a credit
limit of $1,000. The second has a balance of $510 and a credit limit of $1,000.
What is your overall credit utilization? - --Answer --46%
Jerry lost her credit card and instead of reporting it right away, she decides to
continue looking for it for a couple of days. On the second day, she makes the call
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
2025 Questions and Answers
Select the most likely consequence of making payments late to a card that has an
introductory rate - --Answer --Fees and paying the default interest rate on
the balance
Zach is an authorized user on his parents' credit card. What may happen if Zach
doesn't use the card in a responsible way? - --Answer --Zach and Zach's
parents' credit may be damaged
If the typical balance on Lucy's credit card is is $650 and the interest rate (APR) on
her credit card is 18%, how much in interest would you expect Lucy to be changed
in a typical month? - --Answer --About $9.75
Suppose you have two credit cards. The first has a balance of $410 and a credit
limit of $1,000. The second has a balance of $510 and a credit limit of $1,000.
What is your overall credit utilization? - --Answer --46%
Jerry lost her credit card and instead of reporting it right away, she decides to
continue looking for it for a couple of days. On the second day, she makes the call
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
