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C8A Vocabulary for Credit and Borrowing

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

Fill in the blank: ______ is borrowing money with a promise to pay it back later.

a)

Credit

b)

Deposit

c)

Withdrawal

d)

Investment

2.

Fill in the blank: A ______ is a person or company that loans money to another party.

a)

Creditor

b)

Debtor

c)

Borrower

d)

Investor

3.

Fill in the blank: ______ is the cost of borrowing money, typically a percentage of the loan amount.

a)

Interest

b)

Principal

c)

Dividend

d)

Equity

4.

Fill in the blank: ______ is the original amount of money borrowed, not including interest.

a)

Principal

b)

Interest

c)

Dividend

d)

Collateral

5.

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.

a)

Revolving Credit

b)

Installment Credit

c)

Secured Credit

d)

Open Credit

6.

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.

a)

Installment Credit

b)

Revolving Credit

c)

Secured Credit

d)

Open Credit

7.

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.

a)

Collateralized Loan (Secured Loan)

b)

Unsecured Loan

c)

Personal Loan

d)

Revolving Credit

8.

Fill in the blank: ______ is a loan that is not backed by any collateral. The lender relies on your promise to pay it back.

a)

Unsecured Credit

b)

Secured Loan

c)

Mortgage Loan

d)

Auto Loan

9.

Fill in the blank: ______ is a three-digit number that reflects how likely you are to repay a debt, based on your credit history.

a)

Credit Score

b)

Interest Rate

c)

Loan Amount

d)

Payment Term

10.

Fill in the blank: ______ is a detailed statement of your credit activity and current credit situation, used to calculate your credit score.

a)

Credit Report

b)

Credit Card

c)

Bank Statement

d)

Loan Agreement

11.

Fill in the blank: ______ is a short-term, high-interest unsecured loan based on your next paycheck.

a)

Payday Loan

b)

Mortgage Loan

c)

Student Loan

d)

Auto Loan

12.

Fill in the blank: ______ is a high-interest secured loan where your car title is used as collateral.

a)

Title Loan

b)

Payday Loan

c)

Personal Loan

d)

Mortgage

13.

Fill in the blank: ______ is a plan for how to spend and save money each month, which is directly impacted by credit decisions.

a)

Monthly Budget

b)

Credit Score

c)

Interest Rate

d)

Loan Agreement

14.

Fill in the blank: ______ is a summary of your income and expenses over a specific period.

a)

Income Statement

b)

Balance Sheet

c)

Cash Flow Statement

d)

Statement of Retained Earnings

15.

Fill in the blank: ______ is a record that shows what you own (assets) versus what you owe (liabilities).

a)

Net Worth Statement

b)

Income Statement

c)

Balance Sheet

d)

Cash Flow Statement