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WorksheetsCredit Report Quiz
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Maintaining a reasonable amount of unused credit
a)
Positive Impact
b)
Negative Impact
2.
The Pursuit of new credit accounts for 15% of your credit score.
a)
True
b)
False
3.
Numerous credit applications in a short period of time.
a)
Positive Impact
b)
Negative Impact
4.
Checking credit reports annually to search for mistakes.
a)
Negative Impact
b)
Positive Impact
5.
Four categories of information from an individual’s credit report are used to determine a credit score.
a)
True
b)
False
6.
A mathematical tool created to help lender evaluate the risk associated with lending customers money
a)
Credit
b)
Credit Score
c)
Credit Report
d)
Credit History
7.
When goods, services and/or money is received in exchange for a promise to pay back a definite sum of money at a future date.
a)
Credit History
b)
Credit Score
c)
Credit
d)
Credit Report
8.
A record of a consumer's credit history
a)
Credit History
b)
Credit Inquiry
c)
Credit Report
d)
Credit
9.
Consumer gives permission to company to check their credit
a)
Soft Check
b)
Hard Check
c)
Soft Score
d)
Hard Score
10.
The most common credit scoring system is called the
a)
FCO
b)
FECO
c)
FISO
d)
FICO
11.
Payment History, Outstanding Debt and Length of credit history accounts for 80% of your credit score.
a)
True
b)
False
12.
Your race, religion, national origin, marital status are included in your credit report.
a)
True
b)
False
13.
Maxing out limits on a credit card has a positive impact on your credit.
a)
True
b)
False
14.
2009 Card Act made it legal for young adults under 21 to receive a credit card.
a)
True
b)
False
15.
All of these are categories of your credit report except,
a)
Account Summary
b)
Public Record Items
c)
Personal Medical Information
d)
Credit Inquires
16.
A co-signers credit score is not affected if the person they signed for stop paying on credit.
a)
False
b)
True
17.
The person or organization who has the resources to provide the individual with loan.
a)
Co-signer
b)
Lender
c)
Borrower
d)
Credit Agent
18.
The higher your credit score, the higher your interest rate will be.
a)
True
b)
False
19.
The credit score ranges form
a)
300-800
b)
250-950
c)
350-900
d)
300-850
20.
Paying phone and utility bills are paid on time can help establish credit.
a)
True
b)
False
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