Credit Scores: The SATs of Adulthood
Authored by Shari McCourt
Mathematics
11th - 12th Grade
CCSS covered
Used 48+ times
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20 questions
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1.
MULTIPLE SELECT QUESTION
15 mins • 1 pt
1. Your credit score does not just affect loans. Check all of the following that are impacted by your credit score.
Renting an apartment.
Getting utilities without a deposit
Getting a cell phone.
Being seen by a doctor or at a hospital.
Getting some jobs.
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
2. A credit score is:
a ranking of all the credit card companies in which APRs are compared.
a list of all the credit cards you are eligible for.
a snapshot of your credit worthiness at one point in time.
the sum of all your outstanding balances from any loans or credit cards that you have.
Tags
CCSS.RI.11-12.3
CCSS.RI.11-12.5
CCSS.RI.9-10.3
CCSS.RI.9-10.5
CCSS.RI.8.5
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
3. Which of the following is not a step that the credit rater takes when your score is requested?
Adding or subtracting points from your score for each item that makes you more or less likely to repay a debt.
Interviewing you to get a clear picture of your income, expenditures, and your future goals.
Comparing your credit history to the credit history of consumers with similar profiles.
Collecting information from the three major credit bureaus.
4.
MULTIPLE SELECT QUESTION
15 mins • 1 pt
4. Check any of the following that are one of the major credit reporting bureaus.
TransUnion
Experian
Transpiring
Exterium
Equifax
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
5. Why is it possible to have three different scores at one time?
Experian and Equifax only collect data for the last 90 days.
Some creditors do not report to all three agencies.
Transunion only looks at credit card history and does not look at mortgages or installment loans.
All three credit bureaus are trying to be the number one company for obtaining credit scores and therefore each do things differently to stand out.
Tags
CCSS.RI.8.3
CCSS.RI.4.3
CCSS.RI.5.3
CCSS.RI.6.3
CCSS.RI.7.3
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
6. True or False: Everyone is guaranteed one free report a year from each of the three major credit bureaus per the Fair Credit Reporting Act.
True
False
Tags
CCSS.RI.11-12.7
CCSS.RI.8.7
CCSS.RI.9-10.7
CCSS.RL.11-12.7
CCSS.RL.9-10.7
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
7. Which website is the only site authorized to provide you with your free credit report?
www.creditkarma.com
www.freecreditreport.com
www.freecreditscore.com
www.annualcreditreport.com
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