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FICO Score

FICO Score

Assessment

Interactive Video

Other

9th Grade

Practice Problem

Medium

Created by

Delisa Reed

Used 1+ times

FREE Resource

9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does FICO use to determine your credit score?

Statistics and algorithms

Interviews with family members and friends

Your bank records

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does your credit score determine? Check all that apply:

your value as a person

your eligibility for loans

the interest rate you will pay on loans

your eligibility for a savings account

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How long are late payments held against you? 

How long are bankruptcies held against you? 

5 years

7 years

7 years

10 years

3 years

5 years

a lifetime

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should your "debt to credit limit ratio" be?

 

less than 10%

less than 50%

no more than 70%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is it better to max out a single card or spread debt over multiple cards?

Max out one card

Spread out debt over multiple cards

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is best to have different types of debt.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does your credit affect?

Choose all that apply:

Rent an apartment

Obtain Credit

Adopting a Pet

Employment

Car loans, insurance rates and interest rates

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