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Chapter 8 Quiz/Credit

Authored by Crystal Putty

Other

9th Grade

Used 1+ times

Chapter 8 Quiz/Credit
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an 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

consumer credit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The party extending credit is known as the ________, or the lender.

consumer credit

creditor

debtor

contract

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ________________ is the creditor’s evaluation of an applicant’s willingness and ability to pay debts and is typically expressed as a letter grade

credit report

credit rating

credit score

credit bureau

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ___________________ is a numerical measure of a loan applicant’s creditworthiness at a particular point in time

credit bureau

low-risk borrower

credit rating

low-risk borrowe

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _________________________ is a responsible person who signs the loan along with the person to whom the loan is granted

cosigner

creditworthy

unsecured credit

line of credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ___________________ is a preapproved maximum amount that an individual can borrow

revolving credit account

line of credit

open-end credit

revolving credit account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__________________ is an agreement that allows the borrower to use a specific amount of credit over a period of time.

low-risk borrower

revolving credit account

unsecured credit

open-end credit

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