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Credit Vocabulary

Authored by Amberlynn Roe

Social Studies

8th Grade

Used 12+ times

Credit Vocabulary
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21 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of money that the lender lends to the borrower is called the....

principal

down payment

default

collateral

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Interest can be defined as:

a charge for lending money

the fee charged for borrowing money

the amount added into your savings account when opening a bank account

a charge for convenience of accessing money in your bank

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

APR stands for

annual profit rate

annual percentage rate

annual participation rate

annuity profit range

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sum paid or charged for the use of money

interest
time
sales tax
principal

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is a credit card?

The ace of diamonds

A large plastic card designed to ruin consumer's finances

A small plastic card issued by the government attached to a line of credit

A small plastic card issued by a bank and attached to a line of credit

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

What is a credit score?

a number between 300 and 850 representing your creditworthiness

a statistical number that evaluates a consumer's creditworthiness and is based on credit history.

Often referred to as a FICO score

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a number assigned to a person that indicates to lenders their capacity to repay a loan.

Credit score

Credit report

Credit history

Credit bureau

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