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Loan and Credit Flashcard

Loan and Credit Flashcard

Assessment

Flashcard

Financial Education

10th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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26 questions

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1.

FLASHCARD QUESTION

Front

What factors may be considered when applying for a loan?

Back

Income amount and credit score

2.

FLASHCARD QUESTION

Front

Installment loans are loans in which

Back

the amount borrowed and the payment amount are set (unchanging)

3.

FLASHCARD QUESTION

Front

Revolving loans are loans in which

Back

the amount borrowed and the payment amount may change each month.

4.

FLASHCARD QUESTION

Front

Why is it encouraged to get a pre-approval for a car loan? Getting a pre-approval on a car loan helps you on_

Back

staying on your budget

5.

FLASHCARD QUESTION

Front

Which type of interest is better to have on a student loan? Simple interest (pay interest on the borrowed amount), Compound interest (pay interest on the interest you owe)

Back

Simple interest (pay interest on the borrowed amount)

6.

FLASHCARD QUESTION

Front

A credit score is _______________________________?

Back

a three digit number determined by how you use accounts at a bank or credit union

7.

FLASHCARD QUESTION

Front

What are the minimum and maximum credit scores?

Back

300-850

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