Module 121-122 Review Part 2 Question Preview (ID: 34431)


Module 121-122 Review Part 2. TEACHERS: click here for quick copy question ID numbers.

A credit score is a number between
a) 275 and 725
b) 300 and 850
c) 550 and 880
d) 650 and 950

There are __________ credit bureaus that collect data about your credit history.
a) 2
b) 3
c) 4
d) 5

Credit bureaus charge a fee to __________ who look at your credit report.
a) customer service representatives
b) lenders
c) teachers
d) principal

Lenders like __________ and stability.
a) predictability
b) large loan amounts from other lenders
c) late payments
d) maxed out credit cards

Which of the following makes you a good credit risk?
a) making your payments on time
b) having enough income to pay your debt
c) having a long credit history
d) all of the above

What kinds of interest rates do banks typically charge people with low credit scores?
a) low
b) high
c) prime
d) 0%

If a bank turns you down for a loan, what is your best next step?
a) look at your credit report
b) reapply
c) pay a few of your bills
d) nothing

If you fill out an application for a store credit card, what happens next?
a) Usually nothing happens
b) The store allows you to take home your purchase.
c) The store contacts the credit bureau to get your credit report or score.
d) The bank makes sure you have not bounced any checks at that particular store.

What is the relationship between the credit report and credit score?
a) Both are generated by your bank.
b) There is no relationship.
c) Both work together to help you get into college
d) The credit score is calculated from data in the credit report.

What do you need on your application if you are under 21 and you want to apply for a credit card?
a) A co-signer who also signs the application
b) The name of your bank
c) The name of your employer
d) A permanent address

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