Unit 4 - Credit and Debt
Authored by Mark Begey
Social Studies
11th Grade
Used 14+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The interest rate a credit card user will be charged on the unpaid portion of their balance
Annual Percentage Rate (APR)
Interest Rate
Credit Score
FICO Score
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An agreement in which a borrower receives something of value now and agrees to repay the lender in the future, generally with interest
Credit
Loan
Credit Card
Interest Rate
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A plastic card that allows you to make purchases now with borrowed money, which then you must repay to the lender in one lump sum or in monthly payments with interest
Credit Card
Credit
Loan
Principal
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A three-digit number (ranging from 300-850) based on an individual's credit history detailed in a credit report
Credit Score
FICO Score
Interest Rate
Annual Percentage Rate (APR)
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Long-term failure to repay a loan according to the terms agreed to, which has a substantial negative impact on the borrower's credit score
Default
Loan
Principal
Credit
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The most commonly used credit score
FICO Score
Credit Score
Annual Percentage Rate (APR)
Interest Rate
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The rate charged for borrowing money usually expressed as a percent of the amount borrowed
Interest Rate
Principal
Annual Percentage Rate (APR)
Credit Card
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