Week10 Borrowing Basics Vocabulary Quiz

Week10 Borrowing Basics Vocabulary Quiz

9th - 12th Grade

6 Qs

quiz-placeholder

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Week10 Borrowing Basics Vocabulary Quiz

Week10 Borrowing Basics Vocabulary Quiz

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Easy

Created by

TRACEY THOMAS

Used 6+ times

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6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Credit

amount of money charged by a bank to borrow money

issue of money, goods or services to an individual or entity with the expectation of future payments

right to keep possession of property of another until a debt owed by the person is discharged

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Credit Card

trusted institutions where money is kept secure

maximum amount being loaned to the borrower by the creditor

provides a line of credit from a lending institution which can be accessed with a card, has a maximum limit (credit limit) which can be spent and requires monthly repayments

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Unsecured Credit

 maximum amount being loaned to the borrower by the creditor

valuable asset the borrower offers to lender for securement of the loan provided

amount of money charged by a bank to borrow money

loan which is issued and supported by a borrower’s reliability, rather than value of an asset

4.

MATCH QUESTION

1 min • 1 pt

Match the following

Credit

amount of money charged by a bank to borrow money

Peer-to-Peer Lending

process of borrowing money from an individual or investor without a bank’s consent

Payday Loans

trusted institutions where money is kept secure

Bank

issue of money, goods or services to an individual or entity with the expectation of future payments

Interest

short-term, high cost loan typically for $500 or less and due on the next payday or when income is received

5.

MATCH QUESTION

1 min • 1 pt

Match the following

Unsecured Credit

determines a series of fixed or installment payments a borrower must repay over a determined period of time

Credit Card

loan which is issued and supported by a borrower’s reliability, rather than value of an asset

Lien

provides a line of credit from a lending institution which can be accessed with a card, has a maximum limit (credit limit) which can be spent and requires monthly repayments

Installment Credit

right to keep possession of property of another until a debt owed by the person is discharged

6.

MATCH QUESTION

1 min • 1 pt

Match the following

FBLA Pledge

inspires and prepares students to become community-minded business leaders in a global society through relevant career preparation and leadership experiences.

FBLA

I solemnly promise to uphold the aims and responsibilities of Future Business Leaders of America and, as an active member, I shall strive to develop the qualities necessary in becoming a responsible business leader.

FBLA Mission

The largest business Career and Technical Student Organization in the world. Each year, FBLA helps over 230,000 members prepare for careers in business.

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