WorksheetsModule 3: Quiz Review
Total questions: 10
Worksheet time: 2mins
The person who borrows the money....
Creditor
Debtor
Lender
Collateral
The entity to whom you owe money
Creditor
Debtor
Consumer
Collateral
APR stands for (a)
Which of the following is an example of a loan term debt
money market account
life insurance
student loan
debit card purchase
The Consumer Credit Protection Act of 1968 is also known as _____.
Fair Credit Billing Act
Truth-In-Lending-Law
Equal Opportunity Act
Fair Credit Reporting Act
The amount borrowed is known as _____.
Capital
Collateral
Finance Charge
Principal
The interest or all other money that is charged to the borrower is the _____.
Finance Charge
Collateral
Capital
Principal
The amount of time you are given to pay your bill without penalty is the (a) .
Hillary and Stephanie have both borrowed $15,000 from the same bank to buy the same model of a new car. Hillary's credit score is 732 and Stephanie's credit score is 588. Who is likely to pay a lower finance charge?
(a)
Property pledged to assure repayment of a loan is _____.
Capital
Character
Capacity
Collateral
