Credit and Debt Review
Authored by Mike Maietta
Social Studies
9th - 12th Grade
Used 44+ times
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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A three-digit number (ranging from 300-850) based on an individual's credit history
Credit Report
Credit Score
Credit Card
Credit Check
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The rate charged for borrowing money, usually expressed as a percent of the amount borrowed. The "extra" amount you pay on a debt.
Interest rate
Principal rate
Term
Liquidation rate
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of money you borrow from a lender, this does not include interest.
Interest
Principal
Term
Liquidation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The length of a loan agreement. Ex: Your home mortgage is a 30 year loan
Interest
Principal
Term
Liquidation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A method of debt repayment whereby the borrower prioritizes paying down debts with the highest interest rates first
Debt snowball method
Debt avalanche method
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A method of debt repayment whereby the borrower prioritizes paying down debts with the smallest balances first
Debt snowball method
Debt avalanche method
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The maximum amount that may be borrowed on a credit card
Credit Score
Credit Utilization
Outstanding Balance
Credit Limit
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