Loan Vocabulary
7th Grade
•15 Qs
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Loan Vocabulary
Quiz
•
Mathematics
•
7th Grade
•
Medium
+8
Standards-aligned
Darina Bateman
Used 3+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An agreement where you are credited with a fixed amount of money for a fixed period of time, usually with interest.
installment
lease
term
loan
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of time you have to repay your entire loan.
term
lease
installment
mortgage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A contract (often used for cars or property) by which one party allows another to use property for a specified time, usually in return for a periodic payment
term
installment
lease
loan
Tags
CCSS.L.3.4D
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Loan used to finance a specific purchase for a specific amount of time, during which regular payments pay the accrued interest and a portion of the principal
lease
installment
term
peer-to-peer lending
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A loan by individuals and businesses to make real estate purchases without paying the entire value of the purchase up front.
mortgage
shortage
down payment
collateral
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A home loan in which the initial interest rate is normally fixed for a specified period of time after which it is reset periodically, often every month.
collateral
down payment
adjustable rate mortgage
term
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debt not tied to a specific asset, making it difficult or impossible for the lender to repossess items if payments are not made.
partial debt
secured debt
full time debt
unsecured debt
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
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