Credit Vocabulary Review
Authored by Gloria Flemming
Financial Education
11th Grade
Used 4+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Secured Credit?
Credit that is backed by collateral
Credit that is not backed by collateral
A type of revolving credit
A type of installment credit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Unsecured Credit?
Credit that is backed by collateral
Credit that is not backed by collateral
A type of revolving credit
A type of installment credit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Revolving Credit?
Credit that is paid in installments
Credit that allows repeated borrowing
Credit that is backed by collateral
Credit that is not backed by collateral
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Installment Credit?
Credit that is paid in installments
Credit that allows repeated borrowing
Credit that is backed by collateral
Credit that is not backed by collateral
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Loan?
Money borrowed that must be repaid
A type of revolving credit
A type of unsecured credit
A type of secured credit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Debt Free mean?
Having no outstanding debts
Having a secured loan
Having a revolving credit
Having an installment credit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Debit?
A deduction from a bank account
A type of credit
A type of loan
A type of asset
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