Ramsey Classroom Chapter 1 Review

Ramsey Classroom Chapter 1 Review

12th Grade

28 Qs

quiz-placeholder

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Ramsey Classroom Chapter 1 Review

Ramsey Classroom Chapter 1 Review

Assessment

Quiz

History

12th Grade

Practice Problem

Medium

Created by

Krystal Castro

Used 96+ times

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28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a person or organization that uses a product or service

Consumer

Personal Finance

Debt

Loan Shark

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

money owed to another person or company

Debt

Credit

Interest

Personal Finance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the granting of a loan and the creation of debt; any form of deferred payment

Credit

Interest Rate

Loan Shark

Interest

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the percentage of principal charged by the lender for use of its money​​​​​​​

Interest Rate

Loan Shark

Credit

Asset

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

person or entity that charges borrowers interest rates above an established legal rate​​​​​​​

Loan Shark

Interest Rate

Credit

Liabilities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the additional cost a lender charges for borrowing their money

Interest

Asset

Liabilities

tax

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the amount by which the value of a person’s assets exceeds or falls behind the value of their liabilities

Net Worth

Asset

Expense

Net Income

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