Your Day in Bankruptcy Court
Pretest and Answer Key

Test Your Consumer Knowledge

Multiple Choice
1. Graduating students in 2001 had an average of _____________ in combined education loans and credit card balances.

2. In 2001, 21% of undergraduate students had credit cards with balances of between______________.

3. In 2000, consumer bankruptcies (as opposed to municipal and corporate bankruptcies) accounted for _______ of all bankruptcies.

True or False
4. Students double their average credit card debt - and triple the number of credit cards in their wallet - from the time they arrive on campus until graduation.

5. The average credit card balance of undergraduate students in 2001 was $1,000.

6. People who are under 25 are the fastest growing group of bankruptcy filers; they accounted for almost 100,000 filers in 2001.

Fill in the Blank
7. Some_____% of undergraduate students in 2001 had at least one credit card.

Note: The materials for this pretest are taken from the handout Facts about Credit Cards, Student Loans, and Bankruptcy. This handout will be distributed after the completion of the pretest. The sources of the information on the pretest are located on the handout.

Answer Key
1. D. $20,402
2. D. $3000-$7000
3. D. 97.1%
4. True
5. False $2,327
6. True
7. 83%

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