Private Lender

Unit 4 Extended Vocabulary

Quiz
•
Financial Education
•
12th Grade
•
Hard
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A government agency that provides loans to students.
A non-governmental organization, such as a bank, that offers loans to students for educational expenses.
A charitable organization that gives scholarships to students.
A private individual who lends money without any formal agreement.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Federal Direct PLUS Loan
A federal loan available to graduate students or parents of dependent undergraduates to help pay for educational expenses.
A type of loan specifically for undergraduate students only.
A loan that requires a credit check and is available to anyone regardless of education level.
A federal grant that does not need to be repaid.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consolidation Loan
A loan that combines multiple federal student loans into one loan, simplifying repayment.
A type of loan used for purchasing a home.
A loan that is only available for private education expenses.
A short-term loan with high interest rates.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Need-Based Aid
Financial aid given based on a student’s financial situation, typically determined through the FAFSA.
Financial aid that is available to all students regardless of their financial situation.
Scholarships awarded based on academic merit and achievements.
Loans that must be repaid regardless of financial need.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Subsidy
Financial support provided by the government to reduce the cost of something, such as interest on a loan.
A tax imposed on goods and services to generate revenue for the government.
A loan provided by the government with no interest attached.
A grant given to individuals for personal expenses.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Default
The act of repaying a loan ahead of schedule.
The failure to repay a loan according to the terms agreed upon in the promissory note.
A type of loan that has no interest.
A legal term for a loan that is fully paid off.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Repayment Term
The total amount of interest paid over the life of the loan.
The period over which a loan must be repaid, typically expressed in months or years.
The initial amount borrowed from the lender.
The fees associated with processing a loan application.
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