WorksheetsUnit 3 Vocabulary
Total questions: 19
Worksheet time: 10mins
Name
Class
Date
1.
The value of property you possess after deducting your debts.
a)
Debtor
b)
Capital
c)
Character
d)
Credit
2.
A loan for a specific amount that must be repaid in full, including all finance charges, by a stated due date.
a)
Finance Charge
b)
Creditor
c)
Character
d)
Closed-End Credit
3.
Property pledged to assure repayment of a loan.
a)
Grace Period
b)
Creditor
c)
Collateral
d)
Credit
4.
The use of someone else's money, borrowed now with the agreement to pay it back later.
a)
Capacity
b)
Billing Statement
c)
Credit Score
d)
Credit
5.
A person or business that loans money to others.
a)
Capital
b)
Creditor
c)
Creditworthy
d)
Line of Credit
6.
A person who borrows money from others.
a)
Debtor
b)
Billing Statement
c)
Creditworthy
d)
Minimum Payment
7.
The total dollar amount of all interest and fees you pay for the use of credit.
a)
Finance Charge
b)
Billing Statement
c)
Creditor
d)
Line of Credit
8.
A timeframe within which you may pay your current balance in full and incur no finance charges.
a)
Grace Period
b)
Capital
c)
Collateral
d)
Minimum Payment
9.
A preestablished amount that can be borrowed on demand with no collateral.
a)
Capacity
b)
Capital
c)
Collateral
d)
Line of Credit
10.
The least amount you may pay each month under your credit agreement.
a)
Capacity
b)
Creditor
c)
Collateral
d)
Minimum Payment
11.
A credit arrangement that enables a borrower to use credit up to a stated limit.
a)
Debtor
b)
Capital
c)
Open-End Credit
d)
Credit Bureau
12.
An itemized bill showing charges, credits, and payments posted to your account during the billing period.
a)
Finance Charge
b)
Billing Statement
c)
Creditworthy
d)
Credit History
13.
1. The competence (legal ability) of parties to enter into a contract. 2. The financial ability to repay a loan with present income.
a)
Capacity
b)
Credit Report
c)
Creditworthy
d)
Closed-End Credit
14.
A responsible attitude toward honoring obligations, often judged on evidence in the person's credit history.
a)
Billing Statement
b)
Creditor
c)
Character
d)
Credit History
15.
A business that gathers, stores, and sells credit information to other businesses.
a)
Debtor
b)
Capital
c)
Character
d)
Credit Bureau
16.
The complete record of your borrowing and repayment performance.
a)
Finance Charge
b)
Credit Report
c)
Open-End Credit
d)
Closed-End Credit
17.
A written statement of a consumer's credit history.
a)
Grace Period
b)
Capital
c)
Collateral
d)
Credit History
18.
The total of assigned points based on several factors that tells potential creditors the likelihood that you will repay debt as agreed.
a)
Finance Charge
b)
Capital
c)
Credit Score
d)
Credit Bureau
19.
A determination that you are a good credit risk.
a)
Grace Period
b)
Credit Report
c)
Creditworthy
d)
Credit Bureau
100 %
