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Managing Credit

Authored by Bryan Hunter

Life Skills

11th - 12th Grade

Used 29+ times

Managing Credit
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The cost you pay each year to borrow money, including fees, expressed as a percentage

APR

Taxes

IRS

Bank Fee

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A legal proceeding carried out to allow individuals or businesses freedom from their debts, while simultaneously providing creditors an opportunity for repayment

Bankruptcy

Trial

Summons

Money Divorce

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected; occurs when a consumer becomes severely delinquent on a debt

Charge-off

Bankruptcy

Loan

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An attempted recovery of a past-due credit obligation or debt by a collection department or agency

Collections

Repo Man

Bank teller

Loan Payment

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A U.S. government agency that helps protect consumers by regulating financial products and services, like mortgages, credit cards, and student loans

Consumer Financial Protection Bureau (CFPB)

FICA

IRS

6.

MULTIPLE CHOICE QUESTION

30 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

FICO Score

Banks

Loan application

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A record of a person's use of credit over time; 15% of your credit score is based on the length of your credit history

Credit History

Report Card

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