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WorksheetsCredit Test #2 1/2
Total questions: 17
Worksheet time: 6mins
Name
Class
Date
1.
What do creditors mean when they determine id you are "creditworthy" or not?
a)
All of theses answers are correct.
b)
Will you pay it back?
c)
What is your salary?
d)
What other financial obligations do you have?
2.
What is a Credit Bureau"?
a)
A business organization that collects information about your financial transactions.
b)
A business organization that offers a variety of credit cards.
c)
A business that collects and distroys old credit cards.
d)
A bank that only makes loans.
3.
What are the 3 credit bureaus?
a)
Equifax / Experian / TransUnion
b)
Equifax / Equinox / TranSiberian
c)
Factual / Fractual / HolyUnion
d)
Equality / Justice / TransMountain
4.
Which of the following do credit bureaus NOT keep up with?
a)
How many pets you have.
b)
When you open accounts.
c)
When you close accounts.
d)
Late Payments
5.
Which of the following DO credit bureaus keep up with?
a)
Every one of these are correct.
b)
Late Payments
c)
Defaults
d)
On-time Payments
6.
If you had a credit score 600 credit bureaus would label you as…
a)
High Risk
b)
Medium Risk
c)
Low Risk
7.
If you had a credit score 700 credit bureaus would label you as…
a)
High Risk
b)
Medium Risk
c)
Low Risk
8.
If you had a credit score 650 credit bureaus would label you as…
a)
High Risk
b)
Medium Risk
c)
Low Risk
9.
If you are labeled as 'High Risk' what do you experience?
a)
High Interest and Trouble Getting Credit
b)
Low Interest and No Problem Getting Credit
c)
High Interest and No Problem Getting Credit
d)
A ton of offers for credit cards.
10.
If you are labeled as 'Low Risk' what do you experience?
a)
High Interest and Trouble Getting Credit
b)
Low Interest and No Problem Getting Credit
c)
High Interest and No Problem Getting Credit
d)
Many more pop up ads.
11.
If you have bad or no credit at all, which of the following are ways you can get credit?
a)
Looks like all of these are correct.
b)
Payday Loans
c)
Title Loans
d)
Pawn Shops
12.
Loans from these places charge you high interest and make you pay on your next payday.
a)
Payday Loans
b)
Title Loans
c)
Pawn Shops
d)
Service Banks
13.
You should avoid Payday Loans if at all possible,
a)
true
b)
false
14.
If you have a car you can use it as collateral to secure a loan at these businesses.
a)
Payday Loans
b)
Title Loans
c)
Pawn Shops
d)
Service Banks
15.
At these businesses you give up personal property to secure a loan or get cash.
a)
Payday Loans
b)
Title Loans
c)
Pawn Shops
d)
Service Banks
16.
At a Pawn Shop to get your property back you have to repay the loan plus pay a fee.
a)
true
b)
false
17.
If you have bad credit what is your most responsible option for quick cash?
a)
Payday Loans
b)
Title Loans
c)
Pawn Shops
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