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WorksheetsU5L3-4 HW Finance Quizizz
Total questions: 35
Worksheet time: 9hrs 45mins
All of the following purchases can be impacted by your credit report EXCEPT…
a) Getting your own cell phone plan
b) Leasing an apartment
c) Applying for a mortgage to buy a house
d) Buying a TV with cash
a
b
c
d
Jane needs a cosigner for her loan. Which person would be the best for her to ask to be her cosigner?
a) Her cousin, who has several fancy cars and must be rich
b) Her grandfather, who lives on a tight budget
c) Her sister, who shows her she has a credit score of 735
d) Her neighbor, who says sharing the loan will allow him to remodel his garage at the same time
a
b
c
d
How does the interest rate on a loan compare for someone with excellent credit compared to someone with poor credit?
a) Interest rates are the same regardless of credit score
b) Interest rates are lower for someone with excellent credit
c) Interest rates are higher for someone with excellent credit
d) Interest is not charged for someone with excellent credit
a
b
c
d
Which of the following actions can help improve your credit score over time?
a) Closing old credit card accounts
b) Making timely payments on all debts
c) Increasing your credit utilization
d) Applying for multiple new credit cards at once
a
b
c
d
What is the primary purpose of a credit report?
a) To track your employment history
b) To provide a summary of your financial accounts and payment history
c) To list your personal references
d) To determine your annual income
a
b
c
d
Which factor is NOT considered when calculating your credit score?
a) Payment history
b) Length of credit history
c) Your age
d) Types of credit in use
a
b
c
d
What percentage of all new vehicles were leased in 2024?
19.30%
21.14%
25.35%
30.00%
What was the increase in the interest rate from 2022 to 2024?
From 4.61% to 6.84%
From 3.50% to 5.00%
From 5.00% to 7.00%
From 4.00% to 6.00%
What age group has the highest percentage of credit scores over 780?
30 or Younger
40-49
60-69
70 or Older
In the 50-59 age group, what percentage of people have a credit score between 721 and 780?
16%
19%
25%
30%
Which age group has the lowest percentage of credit scores below 621?
30-39
40-49
60-69
70 or Older
What percentage of a credit score is determined by credit history according to the video?
35%
30%
25%
40%
What is the percentage of a credit score determined by amounts owed according to the video?
25%
30%
35%
40%
What is the scale for minimum to maximum possible credit score?
200-800
300-850
400-900
250-750
Why is it better to have a high credit score than a low one?
It decreases your chances of getting a job.
It increases the interest rates you pay.
It makes you more likely to be approved for credit.
It has no effect on telecommunications services.
How is your payment history used as a measure of your creditworthiness?
It shows your ability to save money.
It indicates your likelihood to make on-time payments in the future.
It reflects your total income.
It measures your spending habits.
What do many major credit card companies provide for their customers?
Credit scores
Free gifts
Travel discounts
Cash rewards
Who can provide you with a free credit report and score review?
Nonprofit credit counselors
Bank managers
Insurance agents
Real estate agents
What should you be aware of before enrolling in credit score services?
The color of the website
The cost and terms of the service
The location of the company
The number of employees
What percentage of your credit score is determined by your payment history?
35%
30%
15%
10%
Which factor contributes 30% to your credit score?
How much you owe
Your payment history
Length of credit history
New credit
What is the impact of having a high credit utilization ratio on your credit score?
It improves your credit score.
It has no effect on your credit score.
It lowers your credit score.
It guarantees loan approval.
Which of the following is a recommended strategy to improve your credit score?
Max out your credit cards.
Pay your bills on time.
Close old credit accounts.
Apply for multiple credit cards at once.
What is the effect of a hard inquiry on your credit report?
It increases your credit score by 10 points.
It has no effect on your credit score.
It temporarily lowers your credit score.
It permanently lowers your credit score.
