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WorksheetsFinance Your Future: Knowledge Check
Total questions: 10
Worksheet time: 8mins
What percentage of your credit score is based on paying your bills on time?
25%
35%
50%
75%
True or False:
Once I make a budget I should not change it.
True
False
Canceling a credit card will do what to your credit score?
My score will go up right away because I got rid of debt
My score will drop and not recover
My score will drop at first and then begin to recover
My score will stay the same
True or False:
Small spending like a trip to a vending machine doesn't need to be taken account for because it is just change.
True
False
Which of the below are taken into consideration when calculating your credit score.
Check all that apply
Paying bills on time
Allowing creditors to pull my credit
How old I am
How long I have had credit
If I have different types of credit
True or False:
When on a budget I should not have any money allocated toward entertainment.
True
False
True or False:
You apply for a home mortgage before you start looking for a home.
True
False
When applying for a mortgage it is best to apply to how many lenders within a two week time frame?
Just 1
At least 2
At least 3
At least 10
What is net income?
Income before taxes and all other deductions are taken out
Income after taxes and all other deductions are taken out
Income after just taxes are taken
Income just after insurance is taken out
What are the three most highly used credit reporting agencies?
Check All That Apply
Transunion
Credit Karma
Equifax
Experian
