Ramsey Chapter 4

Quiz
•
Life Skills
•
9th - 12th Grade
•
Easy
Kelly odell
Used 53+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
money owed to another person or company
Debt
Depreciation
Default
Lien
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
credit that automatically renews whenever a payment is made to reduce the debt
Revolving Credit
Appreciating Asset
Installment Credit
Depreciating Asset
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
something owned (that has value) offered as security on a debt; if the debt is not repaid as agreed, the item is forfeited to the lender
Collateral
Liel
Equity
Predatory Lending
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a legal claim against (or right to own) an asset until the debt (loan) is repaid
Lien
Default
Term
Depreciation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an asset that increases in value over time
Appreciating Asset
Depreciating Asset
Revolving Credit
Equity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the increase in value of a home over time; the difference between the amount owed and what the home could be sold for
Equity
Appreciating Asset
Interest
Principal
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
failure to repay a loan on time
Default
Term
Depreciating Asset
Debt
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