Data Analysis and Personal Financial Literacy

Which of the following is NOT on a credit report?

• your social security number

• your full name

• your address

• your hobbies

How long does a bankruptcy remain on your credit report?

• 5 years

• 10 years

• 20 years

• forever

Which of the following would NOT be reported by a lender?

• all of your accounts that are open

• what you bought at the store for each purchase

• the balance on all of your accounts

• the payment history for all of your accounts

What would the courts NOT report on a credit report?

• any medical problems

• any foreclosures on property

• any lawsuits

• any claims by collection agencies

How long does general negative credit activity stay on your credit report?

• 2 years

• 7 years

• 18 years

• forever

Why do you have a credit report?

• to show how financially responsible you are

• to decrease your tax rate

• to avoid an audit

• to increase your salary at work

What is the value of a credit report for a borrower?

• It limits the amount a borrower can borrow.

• It allows the borrower to spend an unlimited amount of money.

• It tells the borrower how to spend the borrowed money.

• It explains the history of the financial institution from which the borrower is getting the money.

A business offers money to students entering a pre-med program in order to help pay for college. Which is true if this money is a grant?

• The student will not have to repay the money.

• There is interest that accumulates that the student will have to pay.

• The grant would show up as a debt on a credit report.

• All businesses offer grants for college students.

Tags

CCSS.RI.5.2

CCSS.RI.6.2

CCSS.RI.7.2

CCSS.RL.6.1

CCSS.RL.6.2

Robert's job is to sit at the front desk of the college library three nights a week. His wages help pay for his college tuition. What is this called?

• student loan

• work-study

• grant

• scholarship

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

Many times, when students borrow money for college, a low interest rate is applied when they pay it back. What is this money called?

• student loans

• work-study

• grants

• scholarships