10/10/22: MOF VOCAB_UNIT 3 TYPES OF CREDIT
Authored by Merideth Richardson
Mathematics
8th Grade
10 Questions
CCSS covered
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A loan in which the interest rate can change, based on prime rate or index rate, over the course of the loan
Variable-Rate Loan
Student Loan
Car Loan
Fixed-Rate Loan
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Debt not tied to a specific asset, making it difficult or impossible for the lender to repossess items if payments are not made
Credit Card Debt
Unsecured Debt
Secured Debt
Regular Debt
Tags
CCSS.RI.9-10.4
CCSS.RI.9-10.4
CCSS.RI.6.4
CCSS.RI.7.4
CCSS.RI.8.4
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The amount of time you have to repay your entire loan
1 year
loan
Term
infinity
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A monthly record of your account transactions provided by your credit card company electronically or on paper
Question
Statement
Answer
None of these
Tags
CCSS.RI.9-10.4
CCSS.RI.9-10.4
CCSS.RI.6.4
CCSS.RI.7.4
CCSS.RI.8.4
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A loan used to fund expenses connected with operating a small business
Friendly Loan
Fast Loan
Small Business Loan
Payday Loan
Tags
CCSS.RI.9-10.4
CCSS.RI.9-10.4
CCSS.RI.6.4
CCSS.RI.7.4
CCSS.RI.8.4
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The cost you pay each year to borrow money, including fees, expressed as a percentage
Speed Rate
Heart Rate
Rate of return
Annual Percentage Rate (APR)
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A person who has permission to use and/or carry another person's credit card, but isn't legally responsible for paying the bill
Professional
Authorized User
Small Person
Large Person
Tags
CCSS.RI.9-10.4
CCSS.RI.9-10.4
CCSS.RI.6.4
CCSS.RI.7.4
CCSS.RI.8.4
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