Financial Terms Flashcards

Financial Terms Flashcards

Assessment

Flashcard

Social Studies

10th Grade

Hard

Created by

Matthew Graham

FREE Resource

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28 questions

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1.

FLASHCARD QUESTION

Front

Amortization

Back

The process of gradually paying off a debt over time through regular payments.

2.

FLASHCARD QUESTION

Front

Annual Fee

Back

A yearly charge by a financial institution for maintaining an account or credit card.

3.

FLASHCARD QUESTION

Front

Annual Percentage Rate (APR)

Back

The yearly interest rate charged on borrowed money, expressed as a percentage.

4.

FLASHCARD QUESTION

Front

Bankruptcy

Back

A legal status for individuals or entities that cannot repay their debts.

5.

FLASHCARD QUESTION

Front

Billing Cycle

Back

The period of time between statement dates for a credit account, typically lasting around 30 days.

6.

FLASHCARD QUESTION

Front

Collateral

Back

An asset offered by a borrower to a lender to secure a loan, which can be seized if the loan is not repaid.

7.

FLASHCARD QUESTION

Front

Collections

Back

The process of pursuing payments of debts owed by individuals or businesses.

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