Finance- Credit Test
Quiz
•
Business
•
10th - 12th Grade
•
Easy
James Gilman
Used 4+ times
FREE Resource
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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?
Debit Card
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
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
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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