Spending Vocabulary
Authored by Abigail Lynch
Professional Development
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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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