What are the effects of bad credit on loan approval?
The Cost of Bad Credit

Quiz
•
Moral Science
•
12th Grade
•
Hard
Sarah Chop
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Lower risk of loan rejection and lower interest rates
Increased chance of receiving a higher loan amount
Higher risk of loan rejection or higher interest rates
No effect on loan approval
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does bad credit impact the interest rates on loans?
Fixed interest rates
No impact on interest rates
Lower interest rates
Higher interest rates
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the consequences of bad credit on financial health?
Positive impact on financial health
No impact on financial health
Improvement in financial health
Negative impact on financial health
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does bad credit affect the ability to secure a mortgage?
It makes it more difficult to secure a mortgage.
It only affects the interest rate of the mortgage
It makes it easier to secure a mortgage
It has no impact on securing a mortgage
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the impact of bad credit on employment opportunities?
Bad credit can actually improve employment opportunities
Employers do not check credit history when hiring
Bad credit can limit employment opportunities and affect the ability to get hired.
Bad credit has no impact on employment opportunities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does bad credit affect the chances of getting hired?
Bad credit has no impact on the chances of getting hired.
Employers do not check credit history when making hiring decisions.
Having bad credit can actually improve the chances of getting hired.
Bad credit can negatively affect the chances of getting hired.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the effects of bad credit on insurance rates?
Insurance rates are lower for people with bad credit
Bad credit can lead to higher insurance rates.
Bad credit has no impact on insurance rates
Bad credit only affects car insurance rates
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