Quiz about Credit Score and Credit Report

Question 1

Your ___________ includes information about how well you manage your money and pay your bills.

Accepted Answer

credit history

Answer

grades at school

Answer

birth certificate

Answer

game collection

Question 2

When I apply to borrow money for a car, the loan company will most likely look at my credit history.

Accepted Answer

True

Answer

False

Question 3

A credit report contains my personal information such as my address and social security.

Accepted Answer

True

Answer

False

Question 4

Late payments are retained on credit reports for 7 years.

Accepted Answer

True

Answer

False

Question 5

Which of the following is one of the 3 nationally recognized credit bureaus?

Accepted Answer

Equifax

Answer

Federal Reserve

Answer

Postal Credit

Answer

FeDex

Question 6

Your credit score is not configured off of which of the following:

Accepted Answer

Grades in School

Answer

Payment history

Answer

Amount of money owed

Answer

Length of credit history

Question 7

Which is an excellent credit score?

Accepted Answer

813

Answer

672

Answer

555

Answer

713

Question 8

Paying my bills late could negatively affect my credit history.

Accepted Answer

True

Answer

False

Question 9

Student loans impact your credit score.

Accepted Answer

Fact

Answer

Myth

Question 10

Race and gender are factors in a credit score.

Accepted Answer

Myth

Answer

Fact

Question 11

Bank of America issues you a credit card with a maximum balance of $1,000.  This is an example of:

Accepted Answer

Credit Limit

Answer

Finance Charge

Answer

Co-Signer

Answer

Minimum Payment

Question 12

Which of the following may request your credit report?

Accepted Answer

all of the above

Answer

insurance companies

Answer

your employer

Answer

your landlord

Question 13

Which of the following probably has the highest credit score? Assume that all of them have made regular monthly payments on time.

Accepted Answer

A 40 year old business owner with two cars, a house, and four active credit cards

Answer

An 18 year old college freshman

Answer

A 20 year old waitress with two active credit cards

Answer

A 50 year old with five credit cards who rents his house.

Question 14

When I apply to borrow money for a car, the loan company will most likely look at my credit history.

Accepted Answer

True

Answer

False

Question 15

What is debt?

Accepted Answer

Something, typically money, that is owed or due

Answer

Another word for death

Answer

A loan on which you do not have to pay interest

Answer

That which is incurred during childhood and consummated in college

Question 16

What is a credit card?

Accepted Answer

A small plastic card issued by a bank and attached to a line of credit

Answer

The ace of diamonds

Answer

A large plastic card designed to ruin consumer's finances

Answer

A small plastic card issued by the government attached to a line of credit

Question 17

What is a credit score?

Accepted Answer

All of the above

Answer

a number between 300 and 850 representing your creditworthiness

Answer

a statistical number that evaluates a consumer's creditworthiness and is based on credit history.

Answer

Often referred to as a FICO score

Question 18

What is interest?

Accepted Answer

The amount that you have to pay back on an amount borrowed

Answer

an overdraft fee

Answer

a tax when you buy stuff

Answer

a coupon for a discount

Question 19

What is a credit report?

Accepted Answer

A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness

Answer

A detailed report of the previous banks that you have used in your life.

Answer

A report which shows which cards you use the most.

Answer

A report invented by your principal that presents your grades

Question 20

What credit score do you think Diana has?

Accepted Answer

590

Answer

760

Answer

790

Answer

850

Question 21

8 x 8

Accepted Answer

64

Answer

88

Answer

46

Answer

60

Question 22

7 x 8

Accepted Answer

56

Answer

42

Answer

58

Answer

54

Question 23

6 x 8

Accepted Answer

48

Answer

64

Answer

68

Answer

42

Question 24

6 x 7

Accepted Answer

42

Answer

35

Answer

13

Answer

45

Question 25

4 x 8

Accepted Answer

32

Answer

23

Answer

12

Answer

16

Question 26

4 x 7

Accepted Answer

28

Answer

47

Answer

21

Answer

11

Question 27

4 x 6

Accepted Answer

24

Answer

46

Answer

12

Answer

10

Question 28

5 x 9=

Accepted Answer

45

Answer

35

Answer

40

Answer

50

Question 29

12 x 5

Accepted Answer

60

Answer

50

Answer

72

Answer

28

Question 30

Multiply:
3 x 28 =

Accepted Answer

84

Answer

82

Answer

14

Answer

96

Question 31

4 x 3

Accepted Answer

12

Answer

43

Answer

7

Answer

14

Question 32

What is 1/10 as a decimal?

Accepted Answer

0.1

Answer

0.01

Answer

0.2

Answer

0.001

Question 33

What percent is equivalent to 0.1?

Accepted Answer

10%

Answer

1%

Answer

.01%

Answer

20%

Question 34

Money is withdrawn directly from a checking or savings account.

Accepted Answer

Debit Card

Answer

Credit Card

Answer

Both

Question 35

Each purchase is a loan that is repaid later.

Accepted Answer

Credit Card

Answer

Debit Card

Answer

Both

Question 36

A PIN (Personal Identification Number) is required to make a purchase.

Accepted Answer

Debit Card

Answer

Credit Card

Answer

Both

Question 37

Interest may be charged but can be avoided by paying the entire balance each month.

Accepted Answer

Credit Card

Answer

Debit Card

Answer

Both

Question 38

If the card is lost or stolen, report it immediately.

Accepted Answer

Both

Answer

Debit Card

Answer

Credit Card

Question 39

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?

Accepted Answer

Debit Card

Answer

Credit Card

Answer

Both

Question 40

It can be used to purchase goods and services.

Accepted Answer

Both

Answer

Debit Card

Answer

Credit Card

Question 41

May cause unnecessary debt

Accepted Answer

Credit Card

Answer

Debit Card

Answer

Both

Question 42

Has fraud protection

Accepted Answer

Both

Answer

Debit Card

Answer

Credit Card

Question 43

Sally goes to the bank. She puts her babysitting money in her account. Sally has made a

Accepted Answer

Deposit

Answer

Withdrawal

Question 44

You can make a ____ by taking money out of your bank account.

Accepted Answer

Withdrawal

Answer

Deposit

Question 45

What is a machine that allows bank customers to deposit or withdraw money without visiting their bank?

Accepted Answer

ATM

Answer

Safe deposit box

Answer

vacuum cleaner

Answer

PO Box

Question 46

What is a written order to a bank to pay a certain amount of money from a checking account to another person or business?

Accepted Answer

Check

Answer

Transaction

Answer

Loan

Answer

Debit card

Question 47

What is money borrowed that must be repaid, usually with interest?

Accepted Answer

Loan

Answer

Check

Answer

Checking account

Answer

Debit card

Question 48

a written record of checks, debits, fees, withdrawals, and deposits for a checking account; it keeps track of money going in and out of a checking account

Accepted Answer

check register

Answer

transaction

Answer

debit card

Answer

overdraft protection

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