Credit & Debt Basics
Flashcard
•
Financial Education
•
10th Grade
•
Practice Problem
•
Easy
Beth Trunzo
Used 1+ times
FREE Resource
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34 questions
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1.
FLASHCARD QUESTION
Front
My friend offered the bank his house as .... when he needed a loan.
Back
collateral
2.
FLASHCARD QUESTION
Front
The bank will take possession of your car if you .... your car loan.
Back
default on
3.
FLASHCARD QUESTION
Front
The amount of money that the lender lends to the borrower is called ....
Back
principal
4.
FLASHCARD QUESTION
Front
Loans for buying cars are called ....
Back
auto loans
5.
FLASHCARD QUESTION
Front
To make sure if the loan applicant always paid back the loans in the past, the bank will check the customer's...
Back
credit rating
6.
FLASHCARD QUESTION
Front
The first thing that the customer needs to do to take a loan is ....
Back
fill out the loan application
7.
FLASHCARD QUESTION
Front
Someone who will take over the loan for a borrower if the borrower fails to make payments is known as the _____________________.
Back
co-signer
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