International Baccalaureate (IB) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the International Baccalaureate with our quiz. Hone your skills with multiple-choice questions and detailed explanations. Excel in your IB exams!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which of the following is not a good idea for getting out of debt?

Quit borrowing money
Borrow money from your parents to pay for the debt
Sell something
Get a part-time job or work overtime

The correct answer is: Borrow money from your parents to pay for the debt

Borrowing money from your parents to pay off debt is not a good idea because it can create a cycle of dependency and doesn't address the underlying issue of managing financial responsibility. While it may provide a temporary solution, it does not teach the necessary skills for effective budgeting and debt management. Relying on others for financial assistance can also strain relationships and may lead to further financial problems in the future if the individual continues to accrue debt without changing their spending habits. In contrast, the other options focus on developing better financial practices and minimizing debt. For instance, quitting borrowing money encourages individuals to avoid further accumulation of debt. Selling something can provide immediate cash flow to pay down debts, while taking a part-time job or working overtime increases income, allowing for more funds to be allocated towards paying off existing debts. These strategies foster a more responsible and proactive approach to managing finances.