Which of the following is not a factor in determining a FICO score?
Finance Chapter 4

Quiz
•
Business
•
9th - 12th Grade
•
Easy
Emily Herren
Used 4+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Getting a personal Loan
Using credit cards
Paying cash for all purchases
Taking out a mortgage on a house
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of the following is NOT a good ideafor getting out of debt?
Quit borrowing money
Get a part time-time job or work overtime
sell something
Borrow money from your parents to pay for the debt
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of the following things cannot be done with a debit card but can be done with a credit card?
Go into debt
Rent a Car
Purchase something online
Purchase an airline ticket
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What factors effect a credit score?
Type of debt
New debt
Duration of debt
All of the above
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of the following statements is false?
Prior to the FCRA, consumers were unable to challenge errors in their credit reports
Under FCRA, consumers are allowed to recieve one free credit report every 5 years
FCR created an ACT to adress consumer credit accuracy
under FCRA, creditors must notify consumers if they deny credit
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of the following is not a step in the drive free method of purchasing a car?
Plan your purchase in advance
Place your settings in a mutual fund
Start with an inexpensive car
Explore new car dealerships for best interest rate
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of the following is the most cost-effective option for purchasing a home?
Get a 15 year mortgage with 5% down payment
get a 30-year mortgage to pay the lowest possible
The most ideal way to buy a house is with 100% down, if not no more than a 15 year fixed rate mortgage
get a 30 year mortgage with 20% down
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