Chapter 5 Vocabulary
Authored by Carly Rexing
Mathematics
12th Grade
Used 1+ times
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Legal process to resolve unmanageable debt.
Bankruptcy
term loan
revolving loan
collateral
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Loan paid off in equal installments over a defined time.
Bankruptcy
term loan
revolving loan
collateral
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Loan that is open-ended, typically with a limit that can be repaid and borrowed from again. Credit cards are an example of revolving loans.
Bankruptcy
term loan
revolving loan
collateral
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Something of value that provides security for a loan.
Bankruptcy
term loan
revolving loan
collateral
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
When a buyer is unable or unwilling to make loan payments.
Default
repossess
London Interbank Offered Rate (LIBOR)
mortgage broker
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Lender who specializes in home or real estate loans.
Default
repossess
London Interbank Offered Rate (LIBOR)
mortgage broker
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Interest rate benchmark that variable rate loans are often tied to.
Default
repossess
London Interbank Offered Rate (LIBOR)
mortgage broker
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