Personal Finance Final Exam Revision

A ____ is a long-term loan given to someone to buy a home.

• scholarship

• mortgage

_____ agents are used to help a person buy or rent property.

• Real estate

• Banking

___ is the difference between the value of property and the amount of money paid on the mortgage loan.

• Equality

• Equity

The maximum of amount you may use on your credit card, is called the credit ____

• limit.

• way.

Banks generally ask for _____ payment before they will give you a loan.

• up

• down

A bank or person who gives you a loan, is called a ____

• debtor.

• creditor.

A car usually ______ over time due to driving it all the time.

• appreciates

• depreciates

____ refers to the DISHONEST way in which people take money from your bank account.

• Froth

• Fraud

A ____ is a person which rents property from the owner.

• landlord

• tenant

When a person agrees to help you pay a loan, if you can't pay it in the future, it is called ____

• co-signing.

• lone-signing.