Credit Records and Laws (FL8)

Credit Records and Laws (FL8)

9th - 12th Grade

32 Qs

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Credit Records and Laws (FL8)

Credit Records and Laws (FL8)

Assessment

Quiz

Life Skills, Business

9th - 12th Grade

Practice Problem

Easy

Created by

Danielle Tuttle

Used 34+ times

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32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Everyone who applies for credit is approved.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Credit guard services are a great value because they are inexpensive and provide services that you cannot do for yourself.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which law requires creditors to investigate and resolve billing errors?

Fair Credit Reporting Act

Fair Credit Billing Act

Equal Credit Opportunity Act

Consumer Credit Protection Act

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is the most likely outcome if someone steals your identity and open a credit card in your name?

Your credit score will increase because credit is being used in your name.

You will not be able to open a credit card because there is already one under your name.

Your credit score will decrease because the identity thief isn't paying the credit card debt.

You will be arrested for credit fraud.

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Property pledged to assure repayment of a loan

character

capacity

capital

collateral

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The complete record of your borrowing and repayment performance

credit report

credit bureau

credit check

credit history

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Information from public records becomes part of your credit report.

True

False

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