Finance- Credit Test

Finance- Credit Test

10th - 12th Grade

•

29 Qs

quiz-placeholder

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Finance- Credit Test

Finance- Credit Test

Assessment

Quiz

•

Business

•

10th - 12th Grade

•

Easy

Created by

James Gilman

Used 4+ times

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a credit score?

Your credit history simplified into a single number

A report that includes your financial history from loans to credit cards

Includes both personal and financial information

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is credit?

When you open up a checking or savings account at your local bank

An investment such as company stock

When goods, services, and/or money are received in exchange for a promise to pay back at a future date.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an ADVANTAGE of having "good" credit?

You are more likely to be approved for a loan

You won't have to pay back loans or credit cards

Your cost of borrowing will rise

You can pay cash for more transactions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of credit is a credit card?

Single-Payment

Debit Card

Revolving Credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Getting and using a credit card responsibly is one way to build credit. What is another good way to build credit?

Get a loan and pay it off making on time payments

Only use cash
Use checks everywhere

Make no more than the minimum monthly payment on you credit card bill

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The bank uses a _____ to pull a report on how prospective borrowers repaid their past debts.

customer profile

loan agreement

credit reporting agency

budget

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

Three kinds of data that the Credit Reporting Agencies collect include:

a person's "Personal" history including employment

a person's "Repayment" history

a person's "Length of Credit" history

a person's "Medical" history

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