Spending limit vocab

Spending limit vocab

9th - 12th Grade

61 Qs

quiz-placeholder

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Spending limit vocab

Spending limit vocab

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Michael Patten

Used 5+ times

FREE Resource

61 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

someone who receives something with a promise to return it or its equivalent

Borrower

tax lien

lender

credit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a loan of a certain amount that a borrower must repay in a specified number of payments. Known as installment credit

tax lien

borrower

Closed-end credit

lender

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

businesses hired by lenders to pursue debt payments that borrowers have not paid back

borrower

Collection agency

credit reporting agencies

lender

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a person who is equally responsible for paying back the debt under the credit terms

lender

borrower

partner

Co-Signer

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

goods, services, or money received in exchange for the promise to pay back at a future date.

Credit report

Credit

credit card

lease

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a record of the borrower's past loans and credit related transactions

Credit report

credit score

Credit History

Open-end credit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the maximum dollar amount that can be borrowed

Credit Limit

Credit score

credit ceiling

Lender

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