Chapter 4 Review: Credit and Debt

If a loan is not repaid, the ___________ of the borrower—used as security for the debt—could be sold by the lender.

• Equity

• Collateral

• Depreciation

• Credit Bureau

A(n) _________ is a number that indicates the likelihood of someone repaying debt.

• Appreciating Asset

• Revolving Credit

• Term

• Credit Score

A(n) ________ reports on a person‘s credit history.

• Equity

• Collateral

• Depreciation

• Credit Bureau

The amount of time you have to pay back a loan is called the ___________ of the loan.

• Term

• Credit Score

• Installment Credit

• Lien

When an item is worth less than what you owe on it, that‘s called _______________.

• Depreciating Asset

• Equity

• Collateral

• Depreciation

Making fixed payments on a loan over a set period of time is an example of _____________.

• Revolving Credit

• Term

• Credit Score

• Installment Credit

When an asset loses value over time, that‘s _____________.

• Depreciating Asset

• Equity

• Collateral

• Depreciation

When you fail to repay a loan on time, you‘re referred to as being in ____________.

• Debt

• Principal

• Predatory Lender

• Default

Which of these is not one of the main credit bureau reporting agencies?

• Identifax

• Equifax

• TransUnion

• Experian

With a debit card, you can do everything you can do with a credit card except what?

• Rent a car

• Stay in a hotel

• Go into debt

• Fly on an airplane