Unit 4 Review

Front

Jose is applying for an automobile loan. The lender considers Jose creditworthy MOST LIKELY because Jose

Back

has made on-time payments to other loans.

Front

Which of these is LEAST LIKELY to determine credit worthiness? personal health history, personal educational background, payment history, length of employment

Back

personal health history

Front

A new video game is coming out in a month and you would like to have enough money to purchase it. Which of these is your BEST financial choice in buying the game?
- put money into a savings account at a bank
- spend more money now and buy the video game with a credit card
- ask the store if they will loan you the money for the video game

Back

put money into a savings account at a bank

Front

What is an example of credt?

Back

A person borrows money from a finance company to buy a car.

Front

While credit is all or part of an amount a borrow may use, debt is:

Back

the amount of credit that is used.

Front

The term describes a business that stores the money of people and businesses and makes loans to its consumers.

Back

bank

Front

This is the legally accepted payment for goods and services.

Back

money

Front

Ability to obtain goods and services before payment, or money lent or made available, both with specific guidelines for repayment.

Back

credit

Front

This is a type of banking card that, when used, withdraws money from a banking account that is linked to that card.

Back

debit

Front

This is an amount that is borrowed from a bank or credit union.

Back

loan