
Understanding Credit Scores

Quiz
•
Other
•
12th Grade
•
Easy
Sandra James
Used 1+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a credit score?
A credit score is a measure of how much money a person has in their bank account.
A credit score is a rating given to individuals based on their social media activity.
A credit score is a numerical representation of an individual's creditworthiness.
A credit score is a number that represents a person's popularity among their peers.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is a credit score calculated?
A credit score is calculated based on the number of credit cards a person has.
A credit score is calculated based on the amount of money a person earns.
A credit score is calculated based on a person's age.
A credit score is calculated using various factors such as payment history, credit utilization, length of credit history, types of credit used, and new credit inquiries.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What factors are included in a credit report?
Number of siblings, favorite movie, and shoe size.
Payment history, credit utilization, length of credit history, types of credit used, and recent credit inquiries.
Number of social media followers, number of pets owned, and favorite color.
Credit score, income level, employment history, and address history.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you improve your credit score?
By paying off credit cards
By closing all of your credit accounts
By making late payments on your bills
By maxing out your credit cards
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the consequences of having a low credit score?
Having a low credit score improves your chances of getting a loan.
Having a low credit score leads to higher credit limits.
The consequences of having a low credit score include difficulty in getting approved for loans or credit cards, higher interest rates, difficulty in renting an apartment or getting a job, and limited financial options.
Having a low credit score has no consequences.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the range of credit scores?
100-500
300-850
400-1000
200-900
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the main credit bureaus that provide credit reports?
Equifax, Experian, and TransUnion
Experian, TransUnion, and Equifax
Equifax, Experian, and Equifax
TransUnion, Equifax, and Experian
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