Financial Literacy Final Exam

Payment history accounts for around _______ of your credit score.

• 1/2

• 3/4

• 35%

• 90%

Tags

CCSS.3.NF.A.1

CCSS.3.NF.A.2B

The 3 credit bureaus that determine your FICO score are:

• Equifax, Transunion, and Experian
• Transamerican, Equality, Experience
• Transparcel, Equin, Faxqui
• Crederian, Equiunion, Experfax

The fee charged by the credit card company every year for the use of the credit card

• annual fee
• credit limit
• credit score
• loan term

The length of time that the lender charges no interest and you can pay your balance off in full each month.

• time table
• introductory rate
• interest rate
• grace period

All of the following are factors that contribute to your FICO credit score except:

• Credit History

• Length of Credit

• Payment History

• Properties owned/rented

Which of the following accounts is the MOST liquid?

• Checking Account

• Regular Savings Account

• Certificate of Deposit

• Money Market Account

Which of the following account types is the LEAST liquid?

• Checking Account

• Regular Savings Account

• Money Market Account

• Certificate of Deposit

Which of the following is a fixed expense?

• Gas

• Groceries

• Car Insurance Payment

• Electric Bill

What is compound interest?

• interest earned on both principal and earned interest

• interest earned on principal once during a certain time period

• a cost that doesn't change each month

• a cost that changes each month

What is simple interest?

• interest earned on both principal and earned interest

• interest earned on principal once during a certain time period

• a cost that doesn't change each month

• a cost that changes each month