Credit Management Terminology Crossword Puzzle

QUESTIONS LIST:

• closed end credit : a loan in which the borrower receives a sum of money that they must repay by a certain date
• open end credit : a loan on which the borrower can draw on repeatedly.
• collateral : an asset that you can pledge to a lender to secure a loan.
• capacity : measures the borrower’s ability to repay a loan.
• conditions : the broader economic and industry-specific factors that may impact the borrower’s ability to repay the loan.
• character : an individual’s reputation or track record for repaying debts.
• capital : a borrower’s savings, investments and other assets that provides financial stability.
• credit report : a report that contains details on an individual’s credit accounts, public records and loan repayment history.
• cosigner : an individual who agrees to sign a loan to help someone with a lower credit score or no credit history qualify for a loan.
• annual percentage rate : total yearly cost of taking out a loan.
• asset : something that is owned such as money, property, or land.
• liability : debts or obligations that are owed.
• net worth : the difference between what is owned and what you owed.
• balance sheet : a financial statement that reports assets, liabilities, and net worth at a specific point in time.
• income statement : a financial report that shows income and expenditures during a set period.