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Explanation: A paper is a proyecto or trabajo understood as a some kind of homework that requires some kind of research. It can also be understood as an "examen",but then I think the proper word in english would be "exam".
Term, as it means a given period of time when a course mainly lasts, can be translated in spanish as semestre, trimestre o curso, depending on whether the whole course is divided into 2 periods of six months or in 4 periods of 3 months, or coincides with the entire course. This you'll have to decide on the context.
Hope it helps!!!