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Credit Score and Credit Report

Total questions: 55

Worksheet time: 1hrs 18mins

Name
Class
Date
1.

Your ___________ includes information about how well you manage your money and pay your bills.

a)

credit history

b)

grades at school

c)

birth certificate

d)

game collection

2.
When I apply to borrow money for a car, the loan company will most likely look at my credit history.
a)
True
b)
False
3.
A credit report contains my personal information such as my address and social security.
a)
True
b)
False
4.
Late payments are retained on credit reports for 7 years.
a)
True
b)
False
5.

Which of the following is one of the 3 nationally recognized credit bureaus?

a)

Equifax

b)

Federal Reserve

c)

Postal Credit

d)

FeDex

6.

Your credit score is not configured off of which of the following:

a)

Payment history

b)

Amount of money owed

c)

Grades in School

d)

Length of credit history

7.

Which is an excellent credit score?

a)

672

b)

555

c)

713

d)

813

8.

Paying my bills late could negatively affect my credit history.

a)

True

b)

False

9.
Which is not included in an individual’s credit report?
a)
Current and past addresses
b)
Account balances
c)
Bankruptcies and foreclosures
d)
Medical information
10.
Student loans impact your credit score.
a)
Myth
b)
Fact
11.
Race and gender are factors in a credit score.
a)
Myth
b)
Fact
12.
Bank of America issues you a credit card with a maximum balance of $1,000.  This is an example of:
a)
Finance Charge
b)
Co-Signer
c)
Minimum Payment
d)
Credit Limit
13.
Which of the following may request your credit report?
a)
insurance companies
b)
your employer
c)
your landlord
d)
all of the above
14.

Which of the following probably has the highest credit score? Assume that all of them have made regular monthly payments on time.

a)

An 18 year old college freshman

b)

A 20 year old waitress with two active credit cards

c)

A 40 year old business owner with two cars, a house, and four active credit cards

d)

A 50 year old with five credit cards who rents his house.

15.
When I apply to borrow money for a car, the loan company will most likely look at my credit history.
a)
True
b)
False
16.

What is debt?

a)

Another word for death

b)

Something, typically money, that is owed or due

c)

A loan on which you do not have to pay interest

d)

That which is incurred during childhood and consummated in college

17.

What is a credit card?

a)

The ace of diamonds

b)

A large plastic card designed to ruin consumer's finances

c)

A small plastic card issued by the government attached to a line of credit

d)

A small plastic card issued by a bank and attached to a line of credit

18.

What is a credit score?

a)

a number between 300 and 850 representing your creditworthiness

b)

a statistical number that evaluates a consumer's creditworthiness and is based on credit history.

c)

Often referred to as a FICO score

d)

All of the above

19.

What is interest?

a)

an overdraft fee

b)

a tax when you buy stuff

c)

a coupon for a discount

d)

The amount that you have to pay back on an amount borrowed

20.

What is a credit report?

a)

A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness

b)

A detailed report of the previous banks that you have used in your life.

c)

A report which shows which cards you use the most.

d)

A report invented by your principal that presents your grades

21.

What credit score do you think Diana has?

a)

590

b)

760

c)

790

d)

850

22.
8 x 8
a)
88
b)
46
c)
60
d)
64
23.
7 x 8
a)
56
b)
42
c)
58
d)
54
24.
6 x 8
a)
64
b)
68
c)
42
d)
48
25.
6 x 7
a)
35
b)
13
c)
42
d)
45
26.
4 x 8
a)
32
b)
23
c)
12
d)
16
27.

4 x 7

a)

47

b)

21

c)

28

d)

11

28.
4 x 6
a)
24
b)
46
c)
12
d)
10
29.
5 x 9=
a)
35
b)
40
c)
45
d)
50
30.
12 x 5
a)
50
b)
72
c)
60
d)
28
31.
Multiply: 
3 x 28 =
a)
82
b)
84
c)
14
d)
96
32.
4 x 3
a)
43
b)
12
c)
7
d)
14
33.

What is 1/10 as a decimal?

a)

0.1

b)

0.01

c)

0.2

d)

0.001

34.

What percent is equivalent to 0.1?

a)

1%

b)

10%

c)

.01%

d)

20%

35.

What fraction is equivalent to 0.2?

a)

1/10

b)

¼

c)

⅕

d)

2/100

36.

What fraction represents 25%?

a)

¼

b)

⅕

c)

1/25

d)

1/10

37.

What decimal is equivalent to ⅓?

a)

0.13

b)

0.30

c)
d)

0.03

38.

What is ½ as a decimal?

a)

0.12

b)

0.05

c)

0.50

d)

50%

39.

What fraction represents 50%?

a)

½

b)

5/100

40.

is equivalent to what fraction?

a)

6/10

b)

66/100

c)

⅓

d)

⅔

41.

Money is withdrawn directly from a checking or savings account.

a)

Debit Card

b)

Credit Card

c)

Both

42.

Each purchase is a loan that is repaid later.

a)

Debit Card

b)

Credit Card

c)

Both

43.

A PIN (Personal Identification Number) is required to make a purchase.

a)

Debit Card

b)

Credit Card

c)

Both

44.

Interest may be charged but can be avoided by paying the entire balance each month.

a)

Debit Card

b)

Credit Card

c)

Both

45.

If the card is lost or stolen, report it immediately.

a)

Debit Card

b)

Credit Card

c)

Both

46.

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?

a)

Debit Card

b)

Credit Card

c)

Both

47.

It can be used to purchase goods and services.

a)

Debit Card

b)

Credit Card

c)

Both

48.

May cause unnecessary debt

a)

Debit Card

b)

Credit Card

c)

Both

49.

Has fraud protection

a)

Debit Card

b)

Credit Card

c)

Both

50.

Sally goes to the bank. She puts her babysitting money in her account. Sally has made a

a)

Deposit

b)

Withdrawal

51.

You can make a ____ by taking money out of your bank account.

a)

Deposit

b)

Withdrawal

52.

What is a machine that allows bank customers to deposit or withdraw money without visiting their bank?

a)

ATM

b)

Safe deposit box

c)

vacuum cleaner

d)

PO Box

53.
What is a written order to a bank to pay a certain amount of money from a checking account to another person or business?
a)
Transaction
b)
Loan
c)
Check
d)
Debit card
54.
What is money borrowed that must be repaid, usually with interest?
a)
Loan
b)
Check
c)
Checking account
d)
Debit card
55.
a written record of checks, debits, fees, withdrawals, and deposits for a checking account; it keeps track of money going in and out of a checking account  
a)
check register
b)
transaction
c)
debit card
d)
overdraft protection

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