W!SE Vocabulary Part 1

Quiz
•
Business, Education
•
9th - 12th Grade
•
Medium

Stacie Johnson
Used 110+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money owed to another person or company.
Debt
Default
Lien
Principal
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Failure to pay back loans.
Default
Repossession
Lien
Collateral
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3 C’s of Credit
Character (credit history), Capacity (ability to repay), Capital (assets)
Collateral, Credit Agency, Credit Cards
CoPay, Claim, Cash Value
Compound Interest, Capital Gain, Credit Score
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Something of value that a borrower lets the lender claim if a loan is not repaid.
Collateral
Repossession
Lien
Principal
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A credit rating developed by Fair Isaac & Company in the late 1950s, now widely used by lenders and employers. It consists of numbers ranging from 300 – 850.
FICO Score
APR
Lien
Principal
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The rate of interest that is charged for using credit
APR
FICO Score
Lien
Principal
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Equifax, Transunion, and Experian keep a record of consumer’s credit transactions. These are called. . . .
Credit Reporting Agencies
Debt Collectors
Credit card agencies
Finance Charges
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