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WorksheetsFinancial Institutions and Your Money
Total questions: 10
Worksheet time: 6mins
Name
Class
Date
1.
A ____ is a group that channels savings to investors.
a)
Creditors
b)
Financial Institutions
c)
Collateral
d)
Secured
2.
Payment made for the use of borrowed money is called
a)
Financial Institution
b)
Creditors
c)
Interest
d)
Secured
3.
Persons or institutions to whom money is owed
a)
Financial Institutions
b)
Interest
c)
Creditors
d)
Collateral
4.
Something of value that can be claimed by a lender if a loan is not repaid
a)
Property
b)
Creditor
c)
Collateral
d)
Interest
5.
Type of loan that is backed up by something of value.
a)
unsecured
b)
secured
c)
personal loan
d)
debt
6.
Which of the following are considered a financial institution
a)
a bank
b)
insurance company
c)
a savings and loan
d)
all of the above
7.
Who pays interest on a loan
a)
a lender
b)
a borrower
c)
a credit union
d)
a creditor
8.
You have a passbook account, therefore, you are
a)
saver
b)
borrower
c)
investor
d)
credit counselor
9.
a woman borrows money to buy a house. If she does not repay the money the bank loaned her the bank will take her house. What is her house
a)
financial institution
b)
collateral
c)
budget
d)
interest
10.
Which of the following is guaranteed only by a promise
a)
A Certificate of Deposit
b)
Secured Loan
c)
Unsecured Loan
d)
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