12/18/24 Quizziz Review for the Test on 12/19/24

Richard, Jaden, and Kalei are discussing about credit scores. They are trying to identify the three main credit bureaus. Can you help them?

• Experian, TransUnion, Equifax

• FICO, VantageScore, Credit Karma

• Visa, Mastercard, American Express

• Bank of America, Wells Fargo, Chase

Brianna is trying to understand what information is included in her credit report. Can you help her out?

• Personal information, types of debt, payment history

• Credit scores, outstanding debt, credit utilization

• Income, employment history, credit inquiries

• Bank account details, investment portfolio, tax returns

Taylor is applying for a loan and the bank manager, Kayla, mentioned something about a credit score range. What is the range of credit scores that Kayla might be referring to?

• 0-100

• 200-500

• 300-850

• 900-1000

Connor is trying to improve his credit score, so he discussed this with his friend Becky. Which factors did she tell Connor to focus on?

• Payment history, credit utilization, length of credit history

• His income, education level, age

• Number of credit cards he has, types of credit used, recent inquiries

• His social media activity, shopping habits, favorite color

Joel is planning to apply for a loan and his friend Andrew advised him to check his credit reports. How often should Joel check his credit reports?

• Once a month

• Once a year

• Every 5 years

• Never

Lexi is applying for a new credit card and the bank performs a check on his credit history. What type of inquiry is this?

• An inquiry that impacts Lexi's credit record

• An inquiry that does not impact Lexi's credit record

• An inquiry made by a potential employer

• An inquiry made by a family member

Mikey bought a house with a loan from a bank. If he defaults on his loan, what is the term for the bank taking possession of his property?

• Foreclosure

• Refusing to pay for a repair and having a lien placed on the property

• Selling a house to pay off a debt

• Repossessing a car due to missed payments

Tags

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.7.4

CCSS.RL.8.4

CCSS.RL.9-10.4

Keyin is looking for ways to improve his credit score. What should he do?

• Pay his bills on time and reduce her outstanding debt

• Apply for multiple credit cards and loans

• Close old credit cards and open new ones

• Increase his income and spend more

What is one advantage of having a credit card?

• It prevents you from spending more than you earn.
• It allows you to make purchases without carrying lots of cash.
• It encourages you to budget your money wisely.
• It helps you pay off debts that you may have.

Why would your credit provider give you a credit limit?

• To remind you to pay your bill on time.
• To prevent you from enjoying the things you buy.
• To prevent you from spending more money than you can pay back.
• To prevent you from shopping in certain places.