Ch 19.1 - Financial Institutions and Your Money (Impact)

A ____ is a group that channels savings to investors.

• Creditors
• Financial Institutions
• Collateral
• Secured

Payment made for the use of borrowed money is called

• Financial Institution
• Creditors
• Interest
• Secured

Persons or institutions to whom money is owed

• Financial Institutions
• Interest
• Creditors
• Collateral

Something of value that can be claimed by a lender if a loan is not repaid

• Property
• Creditor
• Collateral
• Interest

Type of loan that is backed up by something of value.

• unsecured
• secured
• personal loan
• debt

Which of the following are considered a financial institution

•  a bank 
• insurance company
• a savings and loan
• all of the above

Who pays interest on a loan

• a lender
•  a borrower
• a credit union
• a creditor

You have a passbook account, therefore, you are

• saver
• borrower
• investor
• credit counselor

A woman borrows money to buy a house. If she does not repay the money the bank loaned her the bank will take her house. What is her house

• financial institution

• collateral

• budget

• interest

Which of the following is guaranteed only by a promise

• A Certificate of Deposit
• Secured Loan
• Unsecured Loan
• Credit Score