Credit

Credit

8th Grade

•

28 Qs

quiz-placeholder

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Credit

Credit

Assessment

Quiz

•

Business

•

8th Grade

•

Hard

Created by

JOHN REESE

Used 4+ times

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28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A LEGAL agreement between two parties in which one party lends money or provides goods or services to another party with the understanding that payment will be made at a later date

Money

Credit

Cash

Checks

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The party to who money is owed

Creditor

Debtor

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The party receiving the credit

Creditor

Debtor

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount paid by a borrower for the use of credit

APR

Collateral

Interest

Principal

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Property a borrower gives up in case on default

Collateral

Interest

APR

Principal

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of money borrowed (original amount)

APR

Interest

Principal

Collateral

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The annual cost of credit charged by a lender (Your true cost of the credit)

Interest

APR

Collateral

Interest

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