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Credit Vocabulary

Authored by Elizabeth Kent

Social Studies

12th Grade

Used 2+ times

Credit Vocabulary
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20 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The total amount of money owed lenders or creditors.

Loan

Debt

Credit

Collateral

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Amount of money borrowed.

Revolving Credit

Principal

Installment Credit

Term

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Something of value that a borrower lets the lender claim if a loan is not repaid.

Loan

Debt

Credit

Collateral

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Is a loan that does not have collateral pledged against it.

Closed-end Credit

Secured Loan

Open-end Credit

Unsecured Loan

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The cost to borrow money which has to be paid.

Revolving Credit

Interest

Principal

Term

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Failure to pay back a loan.

Default

Interest

Principal

Repossession

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The amount of time you have to pay the loan back.

Revolving Credit

Term

Installment Credit

Repossession

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