Consumer Credit Vocabulary
Flashcard
•
Mathematics
•
12th Grade
•
Practice Problem
•
Hard
+7
Standards-aligned
Wayground Content
FREE Resource
Student preview
15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Credit Reporting Agency
Back
Organizations that compile records on users of credit as to how well they repay their debts.
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
2.
FLASHCARD QUESTION
Front
Personal Loan
Back
An amount of money you borrow to use for a variety of reasons; these loans can be secured or unsecured depending on if collateral exists.
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
3.
FLASHCARD QUESTION
Front
FICO Score/Credit Score
Back
A score that summarizes the probability that a debtor will pay a debt and is a reliable way that creditors judge creditworthiness.
Tags
CCSS.RI.11-12.4
CCSS.RI.7.4
CCSS.RI.8.4
CCSS.RI.9-10.4
CCSS.RI.9-10.4
4.
FLASHCARD QUESTION
Front
Debtor
Back
An organization or person who uses credit.
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
5.
FLASHCARD QUESTION
Front
Secured Loan
Back
A loan that requires some type of collateral as a condition of borrowing (e.g., mortgage, business loan, personal loan with collateral, car loan).
6.
FLASHCARD QUESTION
Front
Unsecured Loan
Back
A loan that does not require collateral; lenders rely on the borrower's creditworthiness.
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
7.
FLASHCARD QUESTION
Front
Credit Rating
Back
An assessment of the creditworthiness of a borrower, often expressed as a letter grade.
Tags
CCSS.RI.11-12.4
CCSS.RI.7.4
CCSS.RI.8.4
CCSS.RI.9-10.4
CCSS.RI.9-10.4
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