WorksheetsC8A Vocabulary for Credit and Borrowing
Total questions: 15
Worksheet time: 8mins
Fill in the blank: ______ is borrowing money with a promise to pay it back later.
Credit
Deposit
Withdrawal
Investment
Fill in the blank: A ______ is a person or company that loans money to another party.
Creditor
Debtor
Borrower
Investor
Fill in the blank: ______ is the cost of borrowing money, typically a percentage of the loan amount.
Interest
Principal
Dividend
Equity
Fill in the blank: ______ is the original amount of money borrowed, not including interest.
Principal
Interest
Dividend
Collateral
Fill in the blank: ______ is a type of credit that allows you to borrow up to a set limit, pay it back, and borrow again, such as a credit card.
Revolving Credit
Installment Credit
Secured Credit
Open Credit
Fill in the blank: ______ is a loan for a specific amount that is paid back in fixed monthly payments over a set period of time, such as a car loan.
Installment Credit
Revolving Credit
Secured Credit
Open Credit
Fill in the blank: ______ is a loan that is backed by an asset, like a car or house, which the lender can take if you don’t repay the loan.
Collateralized Loan (Secured Loan)
Unsecured Loan
Personal Loan
Revolving Credit
Fill in the blank: ______ is a loan that is not backed by any collateral. The lender relies on your promise to pay it back.
Unsecured Credit
Secured Loan
Mortgage Loan
Auto Loan
Fill in the blank: ______ is a three-digit number that reflects how likely you are to repay a debt, based on your credit history.
Credit Score
Interest Rate
Loan Amount
Payment Term
Fill in the blank: ______ is a detailed statement of your credit activity and current credit situation, used to calculate your credit score.
Credit Report
Credit Card
Bank Statement
Loan Agreement
Fill in the blank: ______ is a short-term, high-interest unsecured loan based on your next paycheck.
Payday Loan
Mortgage Loan
Student Loan
Auto Loan
Fill in the blank: ______ is a high-interest secured loan where your car title is used as collateral.
Title Loan
Payday Loan
Personal Loan
Mortgage
Fill in the blank: ______ is a plan for how to spend and save money each month, which is directly impacted by credit decisions.
Monthly Budget
Credit Score
Interest Rate
Loan Agreement
Fill in the blank: ______ is a summary of your income and expenses over a specific period.
Income Statement
Balance Sheet
Cash Flow Statement
Statement of Retained Earnings
Fill in the blank: ______ is a record that shows what you own (assets) versus what you owe (liabilities).
Net Worth Statement
Income Statement
Balance Sheet
Cash Flow Statement
