FINE PRINT: Credit Report
Quiz
•
Financial Education
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12th Grade
•
Practice Problem
•
Medium
RiChiella Johnson
Used 4+ times
FREE Resource
About this resource
This quiz focuses on financial literacy, specifically credit report analysis and interpretation, and is designed for 12th grade students. The assessment requires students to demonstrate comprehensive understanding of credit report components including mortgage details, credit card information, payment history, account status, and credit inquiries. Students must possess strong analytical skills to extract specific data points from a complex financial document, understand mortgage terminology and timeframes, interpret credit limits and balances, recognize delinquency patterns, and evaluate the broader implications of credit management. The final open-ended question demands higher-order thinking as students must synthesize their understanding to provide practical advice about credit monitoring and identify critical areas of focus for a recent college graduate's financial situation. Created by RiChiella Johnson, a Financial Education teacher in the US who teaches grade 12. This quiz serves as an excellent formative assessment tool that can be implemented during instruction on personal finance and credit management, used as homework to reinforce classroom learning, or deployed as a review activity before summative assessments. The authentic credit report analysis provides students with real-world application of financial concepts, preparing them for post-graduation financial responsibilities. The combination of specific data extraction questions and the culminating critical thinking prompt makes this resource valuable for both skill building and assessment of student understanding. This assessment aligns with standards such as CEE.12.1 (analyzing and evaluating financial information) and CCSS.Math.Content.HSA-CED.A.3 (representing constraints and interpreting solutions in context).
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11 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
This is the credit report for how many people?
1
2
3
4
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
How long of a mortgage did Lillie take out?
40 months
5 years
30 years
360 years
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which statement about Lillie’s mortgage is FALSE?
She currently owes $360,595
She started paying this mortgage in November 2012
She makes more than the monthly minimum payment
She is on-time with all of her payments
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What accounts does Lillie T. Lane have open at this time?
One mortgage
One mortgage and one credit card
One mortgage and two credit cards
One mortgage, two credit cards, and one bank account
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the credit limit on Lillie’s First USA Bank credit card?
$1,684
$2,695
$5,500
$8,850
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What was the highest balance Lillie had on her credit card?
$1,684
$2,695
$5,500
$8,850
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which statement is true about Lillie’s past due account(s)?
She’s 30 days overdue, by $50, on 1 account
She’s 30 days overdue, by $50, on 1 account AND she’s 60 days overdue, by $50, on a second account
She’s 60 days overdue, by $50, on 1 account
She’s 90 days overdue, by $50, on 1 account
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