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Understanding Credit Scores

Authored by Kimberly Apple

Other

10th Grade

Used 35+ times

Understanding Credit Scores
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26 questions

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1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

A credit score is (choose all that are correct)

a quick way for lenders to see if you are a good credit risk

represents the information in your credit report with a three digit number

is based on years of data about someone's bill paying behavior

is a reliable predictor of who is and is not likely to repay a loan

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

If your credit score is low (choose all that are correct)

you will pay higher finance charges (interest)

you may not be approved for loans

you look better to lenders

you will pay lower finance charges (interest)

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The information in your report does not change much from month to month unless you do something different or something happens.

true

false

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your credit score determines whether you will be likely to receive a loan.

true

false

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Just because you have good credit doesn't mean you will automatically receive the best credit terms.

true

false

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You should shop around for the best interest rates just like you would shop around for the best price on an item.

true

false

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All finance contracts are the same, so you do not need to read all of every one you sign.

true

false

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