WorksheetsCredit Vocabulary Review
Total questions: 15
Worksheet time: 8mins
What is Secured Credit?
Credit that is backed by collateral
Credit that is not backed by collateral
A type of revolving credit
A type of installment credit
What is Unsecured Credit?
Credit that is backed by collateral
Credit that is not backed by collateral
A type of revolving credit
A type of installment credit
What is Revolving Credit?
Credit that is paid in installments
Credit that allows repeated borrowing
Credit that is backed by collateral
Credit that is not backed by collateral
What is Installment Credit?
Credit that is paid in installments
Credit that allows repeated borrowing
Credit that is backed by collateral
Credit that is not backed by collateral
What is a Loan?
Money borrowed that must be repaid
A type of revolving credit
A type of unsecured credit
A type of secured credit
What does Debt Free mean?
Having no outstanding debts
Having a secured loan
Having a revolving credit
Having an installment credit
What is a Debit?
A deduction from a bank account
A type of credit
A type of loan
A type of asset
What is Collateral?
An asset pledged for a loan
A type of unsecured credit
A type of revolving credit
A type of installment credit
What is a Home Equity Loan?
A loan secured by the equity in a home
A type of unsecured credit
A type of revolving credit
A type of installment credit
What is an Appreciating Asset?
An asset that increases in value
An asset that decreases in value
A type of loan
A type of credit
What is a Depreciating Asset?
An asset that decreases in value
An asset that increases in value
A type of loan
A type of credit
What is an Annual Fee?
A yearly charge for a service
A monthly charge for a service
A one-time charge for a service
A daily charge for a service
What is a Credit Limit?
The maximum amount that can be borrowed
The minimum amount that can be borrowed
The average amount that can be borrowed
The exact amount that must be borrowed
What is an Overdraft?
Spending more than what is in a bank account
Spending less than what is in a bank account
A type of loan
A type of credit
What is a Co-Signer?
A person who agrees to repay a loan if the borrower does not
A person who borrows money
A person who lends money
A person who manages a loan
