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WorksheetsLoans
Total questions: 18
Worksheet time: 5mins
My friend offered the bank his house as .... when he needed a loan.
collateral
debt
term
tenure
The bank will take possession of your car if you .... your car loan.
pay off
default on
endorse
compute
The amount of money that the lender lends to the borrower is called ....
principal
tenure
default
collateral
The three elements of loan in credit rating that can be offered to the customer by the credit dept. are ....
amount
type
term
collateral
Loans for buying cars are called ....
commercial loans
personal loans
auto loans
loan application
To make sure if the loan applicant always paid back the loans in the past, the bank will check the customer's....
credit file
credit rating
charge account
charge card
The first thing that the customer needs to do to take a loan is ....
fill out the loan application
compute the interest payments on the principal
check the customer's information in the credit file
decide tenure of the loan
The principal that banks lend to businesses is ....
auto loans
commercial loans
personal loans
application loans
The bank adds the interest to the .... to calculate the monthly payment of your loan.
principal
tenure
charge account
credit file
A person has a lot of .... if he owes money to a lot of people.
debts
credits
loans
principals
What did Mr. Fanelli and his wife NOT use the charge card for?
bought their furniture
bought tickets
bought airplane
went for vacation
I don't owe the bank any more money because I've .... my loan.
defaulted on
paid off
computed
applied for
A debtor is ....
a person who lends some money
a person who owes some money
a person who gives away money
a person who gives the loans
.... allows a customer to get merchandise or service immediately, but pay later.
charge account
credit file
charge card
personal account
The tenure of the loan is ...
16%
three years
36 payments
in effect
Two CORRECT pairs of synonymous terms are ....
in effect = valid
pay back = default
calculate = currently
security = collateral
The words that have similar meanings with borrower and not pay off are
debtor and repay
creditor and default
debtor and default
creditor and repay
A personal loan is ....
principal that banks lend to businesses
principal that banks lend to an individual business
principal that banks lend to an individual person
principal that banks lend to buy a car
