Unit 7 Credit

Unit 7 Credit

Assessment

Flashcard

•

Life Skills

•

9th - 12th Grade

•

Practice Problem

•

Hard

Created by

Wayground Content

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39 questions

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1.

FLASHCARD QUESTION

Front

When referring to the 5 Components of Credit: Character refers to _____?

Back

borrowers reputation and payment history

2.

FLASHCARD QUESTION

Front

When referring to the 5 Components of Credit: Capacity refers to _____?

Back

a person's ability to repay a debt

3.

FLASHCARD QUESTION

Front

When referring to the 5 Components of Credit: Capital refers to _____?

Back

a borrows savings and assets

4.

FLASHCARD QUESTION

Front

When referring to the 5 Components of Credit: Collateral refers to _____?

Back

the valuable assets owned by a person that can be used to pay off a debt

5.

FLASHCARD QUESTION

Front

When referring to the 5 Components of Credit: Conditions refers to _____?

Back

circumstances that make it easier or harder to obtain a loan

6.

FLASHCARD QUESTION

Front

The Fair Credit Reporting Act _____?

Back

regulates consumer reporting agencies

7.

FLASHCARD QUESTION

Front

The Fair Debt Collection Practices Act _____?

Back

prevents abusive and deceptive practices by debt collectors

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