W!SE Vocabulary Part 1

W!SE Vocabulary Part 1

9th - 12th Grade

15 Qs

quiz-placeholder

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W!SE Vocabulary Part 1

W!SE Vocabulary Part 1

Assessment

Quiz

Business, Education

9th - 12th Grade

Medium

Created by

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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