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WorksheetsLesson 9 Review
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
An example of an unsecured loan is
a)
auto loan
b)
mortgage
c)
student loan
d)
car insurance
2.
Unchanging interest rates are known as
a)
floating
b)
variable
c)
fixed
3.
An example of a secured loan is
a)
auto loan
b)
credit card
c)
student loan
d)
auto insurance
4.
Which type of loan has a deferral period?
a)
credit card
b)
student loan
c)
auto loan
d)
mortgage
5.
Paying an additional amount on monthly loan payments reduces the amount of interest that will be paid overtime.
a)
false
b)
true
6.
Credit cards have a variable/floating interest rate.
a)
false
b)
true
7.
FICO stands for
a)
For Isaac Corporation
b)
Fair Isaiah Corporation
c)
Fair Isaac Corporation
d)
Future Isaac Corporation
8.
Sub prime lending rates have what type of interest rate
a)
lower
b)
higher
9.
Sub prime lending rates are for people with
a)
poor credit
b)
good credit
10.
The highest FICO score is
a)
300
b)
750
c)
850
d)
1000
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