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Chapter 1-4 Test
Created by CoachThornton#1
- Personal Finance
- Loan
- Debt
- Credit
- Interest
- The Five Foundation
- Interest Rate
- Emergency Fund
- Inflation
- Sinking Fund
- Credit Report
- Depreciation
- Debt Snowball
- Credit Score
- Credit Card
- A saving account that is set aside to be used only for emergency expenses
- A measure of an individual's credit risk; calculated from a credit report using a standardized formula
- Saving money over time for a large purchase
- The granting of a loan and the creation of a debt; any form of deferred payment
- The five steps to financial success
- The persistent increase in the cost of goods and services or the persistent decline in the purchasing power of money
- A rate which is either charged (on debt) or paid (on investment accounts) for the use of money
- All of the decisions and activities of an individual of family regarding their money, including spending, saving, budgeting, etc.
- Type of card issued by a bank that allows users to finance a purchase
- Preferred method of debt repayment; includes a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest' which is attacked with the largest payment
- An obligation of repayment owed by one party (debtor/borrower) to a second party (creditor/lender)
- A detailed report of an individual's credit history
- A decrease or loss in value
- A debt evidenced by a "note," which specifies the principal amount, interest rate and date of repayment (ex: house mortage)
- A fee paid by a borrower to the lender for the use of borrowed money
Chapter 1-4 Test (Answer Key)
Created by CoachThornton#1
- Personal Finance
- Loan
- Debt
- Credit
- Interest
- The Five Foundation
- Interest Rate
- Emergency Fund
- Inflation
- Sinking Fund
- Credit Report
- Depreciation
- Debt Snowball
- Credit Score
- Credit Card
- A saving account that is set aside to be used only for emergency expenses
- A measure of an individual's credit risk; calculated from a credit report using a standardized formula
- Saving money over time for a large purchase
- The granting of a loan and the creation of a debt; any form of deferred payment
- The five steps to financial success
- The persistent increase in the cost of goods and services or the persistent decline in the purchasing power of money
- A rate which is either charged (on debt) or paid (on investment accounts) for the use of money
- All of the decisions and activities of an individual of family regarding their money, including spending, saving, budgeting, etc.
- Type of card issued by a bank that allows users to finance a purchase
- Preferred method of debt repayment; includes a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest' which is attacked with the largest payment
- An obligation of repayment owed by one party (debtor/borrower) to a second party (creditor/lender)
- A detailed report of an individual's credit history
- A decrease or loss in value
- A debt evidenced by a "note," which specifies the principal amount, interest rate and date of repayment (ex: house mortage)
- A fee paid by a borrower to the lender for the use of borrowed money
When you're ready to print, just click this button: Make Print-Friendly