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Understanding Credit Scores

Authored by Brad Stockreef

Professional Development

12th Grade

Used 1+ times

Understanding Credit Scores
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23 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a credit score?

A numerical representation of a person's creditworthiness

A type of bank account

A financial statement

A loan application form

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the typical range of a credit score?

The typical range of a credit score is between 300 and 850.

The typical range of a credit score is between 200 and 900.

The typical range of a credit score is between 100 and 800.

The typical range of a credit score is between 400 and 950.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Higher credit scores indicate lower risk to lenders.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who uses credit scores to affect health, auto, and life insurance rates?

Lenders

Landlords

Employers

Insurance Companies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which companies may require a deposit for new accounts based on credit scores?

Lenders

Utility Companies

Employers

Cell Phone Providers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of your credit score is determined by Payment History?

10%

15%

30%

35%

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor contributes 15% to your credit score?

A) Payment History

B) Credit Utilization

C) Length of Credit History

D) New Credit

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