Test Review Chapter 7-10
Authored by Jennifer Florian
Business
9th - 12th Grade
Used 13+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
Your credit report includes your credit score.
2.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
Lenders are legally required to report all credit activity to the credit bureaus.
3.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
A high debt-to-income (DTI) ratio can make it more difficult to get approved for new credit.
4.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
A credit score is primarily based on an individual's income and savings.
5.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
The Annual Percentage Rate (APR) includes both the interest rate and additional fees associated with a loan or credit card.
6.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
Charge cards typically have no preset spending limit and require the full balance to be paid each billing cycle.
7.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
What is the range of FICO credit scores?
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