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Worksheets

loans cars and housing

Total questions: 20

Worksheet time: 11mins

Name
Class
Date
1.

depreciation

a)

decrease in the value of an asset

b)

unsecured debt

c)

collateral

d)

secured debt

2.

unsecured debt

a)

collateral

b)

is a promise to pay that is not backed by any specific asset

c)

secured debt

d)

instalment loan

3.

secured debt

a)

is backed by collateral

b)

unsecured debt

c)

collateral

d)

installment loan

4.

collateral

a)

depreciation

b)

unsecured debt

c)

is property accepted as security for a debt

d)

secured debt

5.

installment loan

a)

unsecured debt

b)

secured debt

c)

collateral

d)

is a purchase that is paid for in equal monthly payments

6.

car lease

a)

lessor

b)

is a contract that allows you to use a vehicle in exchange for payments

c)

lessee

d)

security deposit

7.

lessee

a)

car lease

b)

when you lease a car

c)

lessor

d)

security deposit

8.

lessor

a)

the dealership

b)

car lease

c)

lessee

d)

security deposit

9.

security deposit

a)

amount required by the dealer

b)

car lease

c)

lessee

d)

lessor

10.

apartment lease

a)

lease

b)

car lease

c)

conditions for the apartment

d)

tax

11.

mortgage

a)

a type of secured loan used for buying property

b)

equity

c)

foreclosure

d)

car lease

12.

equity

a)

mortgage

b)

what you owe and the current market price

c)

foreclosure

d)

tax

13.

foreclosure

a)

equity

b)

mortgage

c)

lender takes possession

d)

lessor

14.

is a car an investment

a)

no

b)

yes

c)

maybe

d)

sure

15.

installment loan and purpose

a)

acounts you pay back

b)

for tax

c)

borrow money

d)

cars

16.

why would you lease a car instead of buying a car

a)

drive a lower lease on a car thats exspensive.

b)

car

c)

house

d)

property

17.

why would you get a mortgage

a)

for cars

b)

for a house

c)

to buy a home or to borrow money against the value of a home you already own.

d)

better life

18.

what does it mean when a lender forecloses on property

a)

tax

b)

lease

c)

fro lessor

d)

the legal process that allows for a piece of property to be sold in order to satisfy certain debts that are owed by the property owner.

19.

when you lease a car who pays the insurance

a)

The company that finances your leased car owns it.

b)

lease

c)

house

d)

cars

20.

does the price of a car affect the cost of insurance

a)

for a house

b)

cars

c)

taxes

d)

The cost of your car plays a large part in determining your car insurance premiums.