Everfi Module #4: Credit Scores
Business
11th - 12th Grade
Used 47+ times
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This quiz focuses on credit scores and credit reporting as part of a comprehensive personal finance curriculum, targeting 11th and 12th grade students who are preparing to enter the adult financial world. The questions assess students' understanding of fundamental credit concepts including what credit scores represent, how they are calculated, and their practical applications in real-world scenarios. Students need to grasp that credit scores are numerical representations of creditworthiness ranging from the 300s to 800s, understand the roles of the three major credit bureaus (Equifax, TransUnion, and Experian), and recognize the key factors that influence credit scores such as payment history, amounts owed, and credit utilization ratios. The quiz requires students to analyze scenarios involving credit-building behaviors, distinguish between actions that positively and negatively impact credit scores, and understand the broader implications of credit scores in securing loans, renting apartments, and making major purchases. This quiz was created by a classroom teacher who designed it for students studying personal finance and business concepts in grades 11-12. The assessment serves as an excellent tool for formative assessment following instruction on credit literacy, helping teachers gauge student comprehension of essential financial concepts before students graduate and begin managing their own credit. Teachers can utilize this quiz as a review activity before summative assessments, assign it as homework to reinforce classroom learning, or implement it as a warm-up to identify areas needing additional instruction. The quiz effectively supports classroom instruction by providing immediate feedback on student understanding of credit fundamentals that align with national financial literacy standards. This assessment directly addresses standards such as those found in the Jump$tart Coalition's National Standards in K-12 Personal Finance Education, particularly standards focusing on credit and debt management, and supports state-level personal finance education requirements that emphasize practical financial decision-making skills.
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15 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following statements about credit scores is TRUE?
a. Credit scores reflect how likely individuals are to repay their debts.
b. Credit scores range from the low 300’s to the mid 800’s.
c. Each person has three credit scores.
d. All of the above.
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Having a good credit score is important because:
a. It can impact your ability to get a driver’s license
b. It can impact your ability to be approved for bank loans
c. It can impact how much you will have to pay the government in taxes
d. It can impact how much you will have to pay for college
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which action can hurt your credit score?
I. Paying your phone bill late.
II. Taking the bus to work.
III. Maxing out several credit cards.
IV. Using the internet to pay your bills
I
I and II
I and III
III and IV
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
All of the following make up the big three credit reporting agencies EXCEPT:
Equifax
TransUnion
Experian
Federal Reserve
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Jose wants to be sure he maintains a high credit score as he is planning to buy a new car soon. What should he do to ensure his score stays high, allowing him to buy his dream car?
a. Open a savings account at the local bank.
b. Pay off his credit card balance each month.
c. Test drive several cars before deciding which to buy.
d. All are things he should do to increase or maintain his credit score.
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following actions can NEGATIVELY impact your credit score?
a. You disputed an item on your credit report.
b. You forgot to pay the cable bill.
c. You pay all your bills in cash.
d. You use a small amount of your available credit.
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following actions has NO impact on your credit score?
a. You inquire about a credit card charge.
b. You use a large percentage of your credit limit.
c. You opened several new credit cards last week.
d. You send in your credit card payment a couple days late.
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