Spending Vocabulary

Spending Vocabulary

Professional Development

61 Qs

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Spending Vocabulary

Spending Vocabulary

Assessment

Quiz

Professional Development

Professional Development

Hard

Created by

Abigail Lynch

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61 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Someone who receives something with the promise to return it or its equivalent.

Borrower

Closed-End Credit

Collection Agency

Co-Signer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A loan of a certain amount of money that a borrower must repay in a specified number of equal payments. Also known as installment credit.

Borrower

Closed-End Credit

Collection Agency

Co-Signer

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Businesses hired by lenders to pursue payments on debts that borrowers have not paid back according to the terms of the contract.

Borrower

Closed-End Credit

Collection Agency

Co-Signer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Borrower

Closed-End Credit

Collection Agency

Co-Signer

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Refers to goods, services, and/ or money received in exchange for a promise to pay back a definite sum of money at a future date.

Credit

Credit History

Credit Limit

Credit Report

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Record of the borrowers past loans and credit related transactions.

Credit

Credit History

Credit Limit

Credit Report

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The maximum dollar amount that can be borrowed.

Credit

Credit History

Credit Limit

Credit Report

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