Intro to Credit/Credit Scores - STUDY GUIDE

Intro to Credit/Credit Scores - STUDY GUIDE

12th Grade

37 Qs

quiz-placeholder

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Intro to Credit/Credit Scores - STUDY GUIDE

Intro to Credit/Credit Scores - STUDY GUIDE

Assessment

Quiz

Other

12th Grade

Medium

Created by

Jeanette Kleppinger

Used 78+ times

FREE Resource

37 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Imagine you're applying for a mortgage. What are the two most important factors the bank will look at in calculating your credit score?

Payment history

Amounts owed

Length of credit history

New credit inquiries

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What information is typically included in a credit report?

The interest rates on your mortgage

Your employment history and salary

Records of your credit card payments

Your physical characteristics, such as height and weight

Details of your savings account balance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the official site to obtain a free annual credit report from the three major credit bureaus?

creditreportfreeannual.com

annualcreditreport.com

freecreditannualreport.com

mycreditreportannualfree.com

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a beneficial action for Bob to take if he wants to increase his credit score before applying for a home loan?

Open several new credit cards at once

Consistently pay bills on time

Max out his credit card limits

Ignore his credit report errors

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a good practice for a college student wanting to build a positive credit history?

Applying for a credit card and making small, manageable purchases that can be paid off each month

Withdrawing and spending your entire student loan amount as quickly as possible

Paying for all expenses in cash to avoid debt

Ignoring bills and fees since they are small and seemingly insignificant

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Identify all entities that might require access to your Credit Report:

Mortgage lenders

Credit card issuers

Insurance Companies

Utility companies

Scholarship committees

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

If Jamie has a credit score of 620 and Alex has a credit score of 750, who is likely to receive a lower interest rate on a car loan?

Jamie will receive a lower interest rate because of his lower score.

Alex will receive a lower interest rate due to his higher credit score.

Both will receive the same interest rate regardless of their credit scores.

Interest rates on car loans are determined by the type of car, not the credit score.

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