FINLIT-Ch8 Vocab

FINLIT-Ch8 Vocab

9th Grade

34 Qs

quiz-placeholder

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FINLIT-Ch8 Vocab

FINLIT-Ch8 Vocab

Assessment

Quiz

Social Studies

9th Grade

Medium

Created by

Geoffrey McKenzie

Used 1+ times

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34 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Agreement between two parties in which one party lends money or provides goods or services to another party with the understanding that payment will be made at a later date.

credit
creditor
debtor
closed-end credit
open-end credit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Party extending credit.

credit
creditor
debtor
open-end credit
closed-end credit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Party receiving credit.

credit
debtor
creditor
closed-end credit
open-end credit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit granted to individual consumers by a retail business.

consumer credit
principal
down payment
closed-end credit
installment loan

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Legally binding agreement between a borrower and a creditor.

credit
principal
contract
closed-end credit
installment loan

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Statement in a contract that allows the creditor to require full and immediate payment of the entire balance if a payment is missed or the individual fails to abide by the terms of the contract.

credit
principal
acceleration clause
closed-end credit
installment loan

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Loan for a specific amount that must be repaid with interest by a specified date or according to a specified schedule.

credit
principal
down payment
closed-end credit
installment loan

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