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9th - 12th Grade
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Credit
Quiz
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9th - 12th Grade
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Practice Problem
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Medium
Adrien Young
Used 53+ times
FREE Resource
Enhance your content in a minute
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A legal agreement to receive cash, goods, or services now and pay for them in the future
debit
credit
credit report
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a loan for a specific amount that must be repaid with finance charges by a specified date
closed end credit
open end credit
finance charge
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an agreement that allows the borrower to use a specific amount of money for an indefinite period of time
open end credit
closed end credit
finance charge
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the total amount paid by a borrower to a lender for the use of credit
finance charge
open end credit
closed end credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the amount of money borrowed
principal
contract
finance charge
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
legally binding agreement between the borrower and the creditor
principal
contract
line of credit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a pre approved amount that an individual can borrow
line of contract
contract
principal
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