Banking and Credit Quiz

What is the average APR for credit?

• 10%

• 15%

• 5%

• 25%

What is another name for APR?

• credit score

• credit history

• interest rate

• grace period

True or False: Time allotted after a bill is due is called grace period.

• True

• False

A type of card that is not backed by a cash deposit or collateral (a)   credit cards.

What does APR stand for?

• Annual Portion Range

• Annual Percentage Range

• Actual Percentage Rate

• Annual Percentage Rate

The higher the credit score, the (a)   the interest rate.

Select the correct answer on why her interest rate for her new credit card is higher than she expected.

• Her credit score is considered

• She has more than one line of credit.

• She opened up a new line of credit.

• She hasn't paid off her loans yet.

What does FICO stand for?

• Final Income Chart

• Fair Income Corporation

• Fair Isaac Corporation

• Financial Isaac Company

What are the names of the three credit bureaus?

• Equalfax, Transunion, and Experian

• Equifax, Transunion, and Experian

• Equifax, Transport, and Experian

• Equifax, Transunion, and Experience

A credit score has (a)   digits.