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E Credit
Test Description: Everfi
Instructions: Answer all questions to get your test result.
1) Which of the following statements about credit scores is TRUE
A
Credit scores reflect how likely individuals are to repay their debts.
B
all
C
Each person has three credit scores
D
Credit scores range from the low 300’s to the mid 800’s.
2) Having a good credit score is important because:
A
It can impact how much you will have to pay the government in taxes.
B
It can impact your ability to be approved for bank loans.
C
It can impact how much you will have to pay for college.
D
It can impact your ability to get a driver’s license.
3) All of the following make up the big three credit reporting agencies EXCEPT
A
TransUnion
B
Federal Reserve
C
Equifax
D
Experian
4) Which of the following actions can NEGATIVELY impact your credit score?
A
You pay all your bills in cash
B
You use a small amount of your available credit.
C
You disputed an item on your credit report.
D
You forgot to pay the cable bill.
5) Which of the following actions has NO impact on your credit score?
A
You send in your credit card payment a couple days late.
B
You use a large percentage of your credit limit.
C
You inquire about a credit card charge.
D
You opened several new credit cards last week
6) Which of the following MOST influences your credit score?
A
Length of Credit History
B
Amounts Owed
C
Payment History
D
Types of Credit Used
7) Which of the following actions would IMPROVE your credit score?
A
Opening a new savings account
B
Closing out old credit cards
C
Paying off your credit card bill
D
Using a large portion of your credit limit
8) Which action is LEAST important to maintaining a healthy credit score?
A
Make on-‐time payments
B
Fix inaccurate information on your credit report
C
Know your exact credit score
D
Check your credit report annually
9) How many free credit reports are you legally entitled to each year?
A
Three credit reports each year
B
Three credit reports from each credit bureau
C
One credit report each year
D
One credit report from each credit bureau
10) Having a low credit score can make it more difficult to:
A
Open a new credit card
B
All of the above
C
Obtain a car loan
D
Secure an apartment lease
*select an answer for all questions
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