Spending limit vocab
Authored by Michael Patten
Business
9th - 12th Grade
Used 5+ times
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61 questions
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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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