WorksheetsFICO Credit Score Quiz
Total questions: 1
Worksheet time: 16mins
By how many points has the average FICO credit score increased since 2010?
17 points
27 points
37 points
47 points
As of 2021, what is the all-time high of the average FICO credit score?
606
716
826
936
Which credit bureau reported a noticeable increase in credit scores across all generations?
Equifax
Experian
TransUnion
FICO
What is the minimum credit score often required to qualify for an apartment according to Experian?
520
620
720
820
What is considered the "fair credit" range for FICO's rating scales?
480 to 579
580 to 669
670 to 739
740 to 799
Which of the following is NOT a benefit of having a good credit score when renting an apartment?
Easier rental application process
Lower interest rates on loans
Standing out to potential landlords
Protection from needing to find a cosigner or paying a large security deposit
What is the FICO score range for a "good" credit score?
670 to 739
580 to 669
740 to 799
800 to 850
What is the VantageScore range for a "good" credit score?
601 to 660
661 to 780
781 to 850
500 to 600
What can a good credit score help you save money on according to McClary?
Groceries and clothing
Car and homeowners insurance
Vacation packages
Electronics
Which company reports that credit-based scoring actually lowers premiums for about half of its customers?
LexisNexis
Nationwide
LightStream
Truist Bank
What is the most accurate way to see if your credit score might bring you savings on insurance?
Checking your bank statement
Getting a free quote from an insurance carrier
Applying for a new credit card
Reviewing your credit report annually
How much could you save per month by applying for a mortgage with a high credit score on a 30-year mortgage on a $300,000 house?
(a)
Which online lending arm offers low interest rates for people with good credit and does not charge any origination fees or early payoff fees?
Nationwide
LexisNexis
LightStream
Truist Bank
What is the APR for purchases from the date of account opening on the Citi Simplicity® Card before it changes to the variable APR?
0% APR for 12 months
0% APR for 21 months
19.24% - 29.99% variable APR
5% of each transfer
What kind of fees are associated with the Citi Simplicity® Card for balance transfers completed within the first 4 months of account opening?
No fee
3% or $5, whichever is greater
5% of each transfer (minimum $5)
$5 or 5%, whichever is greater
Which card offers 4X Membership Rewards® points on restaurants (including takeout and delivery) and U.S. supermarkets?
Citi Simplicity® Card
Best rewards credit cards
American Express® Gold Card
Best introductory offers card
According to the text, what can a good credit score help you with in the workplace?
It ensures a higher salary.
It allows you to work fewer hours.
It can influence hiring and promotion decisions.
It guarantees job security.
According to the Fair Credit Reporting Act, what can employers legally access with your signed permission?
Your exact credit score
Your open lines of credit and other credit-related information
Your personal emails
Your medical records
What is the single biggest factor in determining your credit score according to FICO?
The amount of money you earn
The length of your credit history
Your age
A history of timely payments
What is the most important habit for achieving a good credit score?
Paying your bills on time
Applying for new credit cards frequently
Using the maximum amount of your available credit
Transferring balances between cards
What can a good credit score help you with?
Getting a job as a financial advisor
Reducing the number of bills you have to pay
Qualifying for better introductory offers on new credit cards
Increasing your social media followers
What type of organization should you consider for support in building a good credit score if you need help with a plan to get back on track with credit card and loan payments?
For-profit credit counseling agencies
Nonprofit credit counseling agencies
Social media groups
Debt-relief law firms
What certification should a legitimate financial coach or planner have according to the text?
Certified Public Accountant (CPA)
Certified Financial Planner (CFP)
Certified Credit Counselor (CCC)
Certified Investment Banking Professional (CIBP)
Which organization should never charge exorbitant fees for credit counseling?
Certified Financial Education Instructor
National Foundation for Credit Counseling
Certified Personal Finance Consultant
Federal Trade Commission
What does CFE Certified Financial Educator® stand for?
CFE Certified Financial Educator
Certified Financial Education
Certified Financial Expertise
Certified Finance Executive
Where can you find a 1-800 number to call for information about credit counseling?
On a credit card statement
In a financial textbook
On the National Foundation for Credit Counseling website
In the FTC's advice about credit counseling
What is the FTC's advice about?
How to become a Certified Financial Education Instructor
Choosing a credit counselor
Finding a member agency for credit counseling
Checking your credit card statement
