What is usually needed when borrowing large amounts of money, the loan is secured with collateral
Personal Finance - 4.4 Credit and Debt

Quiz
•
Mathematics, Life Skills
•
9th Grade - University
•
Medium
Dawn Hester
Used 10+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
national debt
personal debt
unsecured loan
secured loan
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of money an individual person owes
national debt
personal debt
unsecured loan
secured loan
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a long term rental agreement on a car
unsecured loan
secured loan
lease
PMI
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is given to borrowers based on their financial resources or ability to repay the loan
unsecured loan
secured loan
PMI
ARM
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
ARM
a part of your body
adjustable rate mortgage
adding random math
reverse mortgage
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of a lender taking something back (like a car) for failure to make payments
foreclosure
repossession
bankruptcy
grinch
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Private mortgage insurance
PMI
insurance needed because you didn't put a large enough down payment down on a house
pay my insurance
garnishment
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