
Week10 Borrowing Basics Vocabulary Quiz
Authored by TRACEY THOMAS
Business
9th - 12th Grade
Used 6+ times

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6 questions
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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
Peer-to-Peer Lending
short-term, high cost loan typically for $500 or less and due on the next payday or when income is received
Payday Loans
amount of money charged by a bank to borrow money
Credit
process of borrowing money from an individual or investor without a bank’s consent
Interest
issue of money, goods or services to an individual or entity with the expectation of future payments
Bank
trusted institutions where money is kept secure
5.
MATCH QUESTION
1 min • 1 pt
Match the following
Lien
loan which is issued and supported by a borrower’s reliability, rather than value of an asset
Installment Credit
right to keep possession of property of another until a debt owed by the person is discharged
Unsecured Credit
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
Credit Card
determines a series of fixed or installment payments a borrower must repay over a determined period of time
6.
MATCH QUESTION
1 min • 1 pt
Match the following
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 Pledge
inspires and prepares students to become community-minded business leaders in a global society through relevant career preparation and leadership experiences.
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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