Unit 4 Credit Review: Question Preview (ID: 3833)


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Which is NOT a reward/advantage of using credit?
a) interest b) convenience c) protection d) emergencies
Which is NOT a risk/disadvantage of using credit?
a) debt b) opportunity to build credit c) interest d) overspending
Which of the following makes up 15% of your credit score?
a) outstanding debt b) pursuit of new credit c) credit history d) payment history
Which of the following makes up 35% of your credit score?
a) payment history b) types of credit in use c) pursuit of new credit d) credit history
True or False: A shorter credit history will generally increase a credit score.
a) True b) False c) d)
True or False: A high percentage of outstanding debt will negatively impact a credit score.
a) True b) False c) d)
True or False: Late or missed payments will positively impact a credit score.
a) True b) False c) d)
True or False: Opening too many types of accounts in a short period of time has a negative impact on a credit score.
a) True b) False c) d)
True or False: A variety of credit is generally good to have.
a) True b) False c) d)
True or False: A FICO score is only based upon credit use.
a) True b) False c) d)
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