Module 121- 122 Review Part 1

Test Description: Module 121- 122 Review Part 1

Instructions: Answer all questions to get your test result.

1) Character, capacity, capital, conditions, and collateral are used by lenders to determine your creditworthiness.

2) Lenders offer lower interest rates if you have a lower credit score.

3) Lenders try to lend money only to people they expect will pay them back.

4) You can increase your credit score by paying your entire credit card balance every month.

5) The more debt you have, the better your credit score will be.

6) A lower credit score means you are a lower risk for lenders.

7) A car dealership will tend to offer you a better car loan if you have a high credit score.

8) You are more likely to receive a loan if you have plenty of capital than if you have little capital.

9) Having a co-signer makes you less likely to receive a loan.

10) Your credit score doesn't matter to lenders if you have enough capital.


*select an answer for all questions

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