Credit & Debt Vocabulary

Credit & Debt Vocabulary

12th Grade

75 Qs

quiz-placeholder

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Credit & Debt Vocabulary

Credit & Debt Vocabulary

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Lauren Litcofsky

Used 3+ times

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75 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the paying off of debt over time in equal installments; part of each payment goes towards the loan principal while the other part goes towards interest

Collections
Reposession
Amounts Owed
Amortization

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a yearly fee that may be charged for having a specific credit card, independent of how you use the card

Annual Fee
Tax Lien
Amounts Owed
Penalty APR

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the cost you pay each year to corrow money, including fees, expressed as a percentage

Penalty APR
Anual Percentage Rate (APR)
Interest Rate
Variable Rate Loan

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a person who has permission to use and/or carry another person's credit card, but isn't legally responsible for paying the bill

Unsecured Debt
Secured Debt
Home Equity
Authorized User

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a credit card service that allows cardholders to withdraw a certain amount of cash, either their an ATM or directly from a bank, typically at high interest rates or for a fee

Cash Back
Annual Fee
Cash Advance
Tax Lien

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a credit card benefit that pays the cardholder a small percentage of their net expenditures, often as cash, payment towards their balance, rewards points, travel miles, or gift cards

Cosigner
Cash Advance
Tax Lien
Cash Back

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

something valuable that the lender can take as payment if you can't or don't repay your loan

Cosigner
Collections
Term
Collateral

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