5.5 Credit Scores

5.5 Credit Scores

11th Grade

10 Qs

quiz-placeholder

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5.5 Credit Scores

5.5 Credit Scores

Assessment

Quiz

Mathematics

11th Grade

Hard

Created by

Emmalee Handshy

Used 4+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements best describes the relationship between credit scores and credit riskiness of borrowers?

Higher credit scores are associated with higher credit risk

Higher credit scores are associated with lower credit risk

Lower credit scores are associated with lower credit risk

Credit scores and credit risk are unrelated

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT used to estimate a credit score?

Marital status

Age

New credit inquiries

Both age and marital are correct

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When reviewing personal information, which of following is included in credit-scoring models?

Gender of individual

Race of individual

Public record information

All of the answer choices are correct

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following credit inputs is the least important when a FICO score is developed?

Length of credit history

Amount of credit

Payment history

Types of credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Raul has had a credit card since college. Overall, he has managed his credit history well, although he has occasionally made a late payment on his credit card. Given this information, which of the following FICO scores is Raul likely to recieve?

350

825

640

790

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Individuals with low credit scores are more likely to be:

Charged higher interest rates on loans

Offered new low-cost credit cards

Charged higher insurance premiums

Charged higher interest rates on loans and pay higher insurance premiums

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following statements regarding credit inquires are true, EXCEPT:

Hard credit inquiries generally have a negative impact on credit scores

Soft credit inquiries generally do not affect credit scores

When an individual requests his or her own credit report, it is considered a hard inquiry

Hard credit inquiries generally have a negative impact on credit scores, but soft credit inquiries generally have no effect

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