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Module 121-122 Review Part 2
Test Description: Module 121-122 Review Part 2
Instructions: Answer all questions to get your test result.
1) A credit score is a number between
A
275 and 725
B
650 and 950
C
550 and 880
D
300 and 850
2) There are __________ credit bureaus that collect data about your credit history.
A
5
B
3
C
2
D
4
3) Credit bureaus charge a fee to __________ who look at your credit report.
A
teachers
B
lenders
C
customer service representatives
D
principal
4) Lenders like __________ and stability.
A
predictability
B
maxed out credit cards
C
late payments
D
large loan amounts from other lenders
5) Which of the following makes you a good credit risk?
A
all of the above
B
having enough income to pay your debt
C
making your payments on time
D
having a long credit history
6) What kinds of interest rates do banks typically charge people with low credit scores?
A
high
B
prime
C
0%
D
low
7) If a bank turns you down for a loan, what is your best next step?
A
look at your credit report
B
nothing
C
reapply
D
pay a few of your bills
8) If you fill out an application for a store credit card, what happens next?
A
The store contacts the credit bureau to get your credit report or score.
B
Usually nothing happens
C
The store allows you to take home your purchase.
D
The bank makes sure you have not bounced any checks at that particular store.
9) What is the relationship between the credit report and credit score?
A
The credit score is calculated from data in the credit report.
B
Both work together to help you get into college
C
Both are generated by your bank.
D
There is no relationship.
10) What do you need on your application if you are under 21 and you want to apply for a credit card?
A
A permanent address
B
The name of your bank
C
A co-signer who also signs the application
D
The name of your employer
*select an answer for all questions
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