Credit + Qualifying for a Loan Questions

Name

Class Period

• 2A
• 3A

What percentage of your credit score is determined by your payment history?

• 30%
• 15%
• 10%
• 35%

Which of the following is considered the safest and most traditional method of getting a business loan?

• Private investors
• Bank or credit union
• Crowdfunding
• Family loans

In a debtor-creditor relationship, who is the creditor?

• The person receiving the loan
• The co-signer
• The one extending credit
• The business partner

What is the range of possible credit scores?

• 100-700
• 400-900
• 300-850
• 200-800

Which action would likely DECREASE your credit score?

• Having a mix of credit types
• Keeping old credit cards open
• Opening multiple new accounts quickly
• Making regular payments

What percentage of your credit score is based on the amount owed?

• 15%
• 30%
• 35%
• 10%

When applying for a business loan, whose credit history is typically checked?

• The business's history only
• Your personal credit history
• Your business partner's history
• The industry average

What does using most of your available credit indicate to lenders?

• Financial responsibility
• Business acumen
• Investment knowledge
• Financial instability