Unit 3 Vocabulary
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9th - 12th Grade
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17 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total dollar amount of all interest and fees you pay for the use of credit.
Finance Charge
Billing Statement
Creditor
Line of Credit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The least amount you may pay each month under your credit agreement.
Capacity
Creditor
Collateral
Minimum Payment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The value of property you possess after deducting your debts.
Debtor
Capital
Character
Credit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A determination that you are a good credit risk.
Grace Period
Credit Report
Creditworthy
Credit Bureau
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The complete record of your borrowing and repayment performance.
Finance Charge
Credit Report
Open-End Credit
Closed-End Credit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A loan for a specific amount that must be repaid in full, including all finance charges, by a stated due date.
Finance Charge
Creditor
Character
Closed-End Credit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A credit arrangement that enables a borrower to use credit up to a stated limit.
Debtor
Capital
Open-End Credit
Credit Bureau
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