
EPF 2.4 Review
Authored by Jennifer Miller
Social Studies
9th - 12th Grade
Used 40+ times

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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
item of value offered as a guarantee that a borrower will pay back a loan; houses and cars are common collateral
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
legal process to eliminate an individual or business's debt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
stored value of an asset; for example, if a home valued at $150,000 had $40,000 paid on it, the equity is the $40,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
loan on the equity of the home that can be used like a credit card on a revolving basis
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
loan that has no collateral
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
when a mortgage is not paid, the lender can take possession of the home and re-sell it to recover their investment
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
loan with collateral offered as security for payment
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