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WorksheetsConsumer Credit
Total questions: 13
Worksheet time: 7mins
The Rate lenders charge borrowers for money
Interest Rate
Interest
Credit Score
Principal
The non-interest portion of a loan
Interest Rate
Principal
Interest
Credit Score
A fee that is paid to borrow money
Interest Rate
Principal
Credit Score
Interest
Credit allows you to
Sell items at an outrageous price
borrow money now so you can pay for an item later
pay money up front to purchase and item
obtain items without paying for them at all
What is a credit score?
A number that determines whether you are an honest person
A number that represents whether or not you can afford an item
A number that represents the risk a financial institution will take in loaning you mon
A number that determines how much debt you have
What are the three major credit bureaus?
Transunion
Experian
Trans-America
Equifax
Lenders use your average score to determine
(select all that apply)
Whether or not you pay our bills on time
How much credit you will be awarded
your Character
Whether you will be approved for credit
Who is likely to received the best and lowest interest rates on a loan?
Those with lowest credit scores
Those with highest credit scores
Student Loan
A Sum of of Money Borrowed that is expected to be paid back with interest
Loans offered to college students to help cover the cost of their education
A loan that is guaranteed (backed) by a personal or business asset (Car, house, etc.)
A long that is NOT guaranteed by an asset. It relies solely on the credit history to qualify
Loan
A Sum of of Money Borrowed that is expected to be paid back with interest
Loans offered to college students to help cover the cost of their education
A loan that is guaranteed (backed) by a personal or business asset (Car, house, etc.)
A long that is NOT guaranteed by an asset. It relies solely on the credit history to qualify
Unsecured Loan
A Sum of of Money Borrowed that is expected to be paid back with interest
Loans offered to college students to help cover the cost of their education
A loan that is guaranteed (backed) by a personal or business asset (Car, house, etc.)
A long that is NOT guaranteed by an asset. It relies solely on the credit history to qualify
Secured Loan
A Sum of of Money Borrowed that is expected to be paid back with interest
Loans offered to college students to help cover the cost of their education
A loan that is guaranteed (backed) by a personal or business asset (Car, house, etc.)
A long that is NOT guaranteed by an asset. It relies solely on the credit history to qualify
A credit card is an example of an _______________________ loan
Open ended
Close Ended
