Vocab Quiz Weeks 3 + 4 (MP3)

1. A record of how a person has handled money and debt, including credit card accounts and other loans

• Credit Limit

• Credit History

• Personal Loan

• Bankruptcy

1. A legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts

• Public Offer

• Credit History

• Personal Loan

• Bankruptcy

1. An amount of money you can borrow to use for a variety of purposes

• Credit Card

• Credit History

• Personal Loan

• Lease

A loan that gives you access to capital so you can invest it into your business

• Personal Loan

• Mortgage

• Small Business Loan

• Student Loans

1. A financing agreement where people pay to drive a car, but they are not taking out a loan to eventually own it

• Leasing

• Car Loan

• Mortgage

• Dealership Loan

1. The maximum amount of credit a financial institution extends to a client on a credit card or a line of credit

• Bankruptcy

• Personal Loan

• Lease

• Credit Limit

Loans that don’t accrue interest until you are done with school

• Unsubsidized Loans

• Subsidized Loans

• Personal Loans

• Car Loans

1. Loans that accrue interest while you are in school

• Unsubsidized Loans

• Subsidized Loans

• Personal Loans

• Car Loans

1. A home loan with a set rate of interest that does not change throughout the life of the loan

• Lease

• Fixed Rate Mortgage

• Adjustable Rate Mortgage (ARM)

• Private Loan

1. A home loan with a rate of interest that changes throughout the life of the loan

• Lease

• Fixed Rate Mortgage

• Adjustable Rate Mortgage (ARM)

• Private Loan