TEKS.MATH.6.14F

The higher your credit score, the higher your interest rate will be.

• True
• False

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TEKS.MATH.6.14F

a number assigned to a person that indicates to lenders their capacity to repay a loan.

• Credit score

• Credit report

• Credit history

• Credit bureau

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TEKS.MATH.6.14F

Mr. Scott wants to get a loan to buy a house. Why is a good credit report important to him?

• The real estate company will use it to decide whether or not to show him houses.

• The home owners will use it to decide if he can take care of the house property.

• The band will use it to decide whether or not to lend him money to buy the house.

• The county will use it to decided how much property tax to charge him.

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TEKS.MATH.6.14F

Which of the following is one of the 3 nationally recognized credit bureaus?

• Equifax

• Federal Reserve

• Postal Credit

• TripleUnion

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TEKS.MATH.6.14F

Who would be more likely to get a car loan?

• Dave with a credit score 560

• Julie with a credit score 780

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TEKS.MATH.6.14F

Who would be more likely to get a car loan?

• Dave with a credit score 560

• Julie with a credit score 780

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TEKS.MATH.6.14F

Ms. Versini applied for a car loan from a bank. Which statement best describes the importance of Ms. Versini’s credit report to the bank?

• The report shows the likelihood that Ms. Versini will pay back the entire loan on time.

• The report shows the highest level of education that Ms. Versini has reached.

• The bank gives higher interest rates to people with higher credit scores.

• The bank gives partial loans to people with strong credit.

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TEKS.MATH.6.14F

Mr. Scott wants to get a loan to buy a house. Why is a good credit report important to him?

• The real estate company will use it to decide whether or not to show him houses.

• The home owners will use it to decide if he can take care of the house property.

• The band will use it to decide whether or not to lend him money to buy the house.

• The county will use it to decided how much property tax to charge him.

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TEKS.MATH.6.14F

Credit history and credit scores are beneficial to both lenders and borrowers. Which statement below describes a benefit to a lender?

• Lenders use your credit history to determine if you have attended college.

• Lenders use your credit history and score to determine their risk in lending you money.

• Lenders use your credit number to conduct weekly reports on your spending habits.

• Lenders use your credit score to finance other loans.

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TEKS.MATH.6.14F

Which statement below does NOT accurately describe aspects pertaining to your credit history or credit score?

• Credit scores are based on your salary.
• Lenders use your credit score to determine your ability to repay debt.
• Your credit score is negatively affected by late payments and high debt to income ratios.
• Your credit score changes over time based on your spending and borrowing habits.

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TEKS.MATH.6.14F