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WorksheetsCredit Bureaus and Collection Practices
Total questions: 13
Worksheet time: 14mins
Name
Class
Date
1.
According to Dave Ramsey, it is extremely important to have a high credit score.
a)
True
b)
False
2.
Mrs. Weissinger believes that it IS possible to have credit and still be financially responsible.
a)
True
b)
False
3.
The only way to have a FICO is to have debt.
a)
True
b)
False
4.
A credit bureau can remove a late payment from my credit report once I have paid the late payment and all of the appropriate fees.
a)
True
b)
False
5.
Which of the following will help improve your credit score?
a)
Pay cash for everything.
b)
Responsibly use your debit card.
c)
Responsibly use your credit card.
d)
None of the above
6.
Which of the following is likely to check your credit score?
a)
Auto insurance company
b)
Credit card company, when applying for their card
c)
Utility company
d)
All of the above
7.
Statistically speaking, who is more likely to steal your identity?
a)
Grocery store cashier
b)
A family member
c)
Your brand new neighbor
d)
Person behind you in the check-out line
8.
On average, how long does it usually take to clean up your credit once it has been messed up by someone else?
a)
30 days
b)
60 hours
c)
600 hours
d)
None. It isn't your responsibility if someone else messed it up.
9.
Which is NOT a reason for checking your credit report?
a)
Looking to make sure income is listed correctly
b)
Looking for signs of identity theft
c)
Looking for errors
d)
All of these are reasons to check your credit report.
10.
Which is NOT one of the three credit bureaus?
a)
Equifax
b)
Transunion
c)
Credit Karma
d)
Experian
11.
In which situation do you use the debt snowball?
a)
You don't have enough money to make all of your minimum payments.
b)
You have extra money after making all of your minimum payments.
c)
You want to consolidate your debt into one large payment.
d)
You are trying to build a debt snowman.
12.
When do you use the pro rata plan?
a)
You have extra money to pay off your debts.
b)
You don't have enough money to pay the minimum payment to everyone you owe.
c)
You are planning your budget for the following month.
d)
You are planning for your retirement.
13.
Creditors are allowed to call you between which hours?
a)
10:00 am - 8:00 pm
b)
9:00 am - 9:00 pm
c)
9:00 am - 8:00 pm
d)
8:00 am - 9:00 pm
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