Personal Finance Credit Score Question Preview (ID: 40004)


Personal Finance. TEACHERS: click here for quick copy question ID numbers.

Which of the following MOST influences your credit score?
a) Types of Credit Used
b) Payment History
c) Length of Credit History
d) Amounts Owed

Which best explains what a credit score represents?
a) A number showing how likely you are to have more than one credit card.
b) A numerical rating that expresses how likely you are to repay your debts.
c) A numerical rating that shows how much money you have in your bank account.
d) A number expressing your yearly income.

Which of the following actions would improve your credit score?
a) Closing out old credit cards
b) Paying off your credit card bill
c) Using a large portion of your credit limit
d) Opening a new savings account

Which of the following is true of a person with a high credit score?
a) They are more likely to pay bills on time.
b) They are less likely to pay off debts.
c) They probably have a high balance on multiple credit cards
d) Both B and C are correct

Which action is LEAST important to maintaining a healthy credit score?
a) Make on-time payments
b) Check your credit report annually
c) Know your exact credit score
d) Fix inaccurate information on your credit report

In which of the following situations is having a good credit score important?
a) Buying a car.
b) Applying for a loan at a bank.
c) Renting an apartment.
d) All of the above.

How many free credit reports are you legally entitled to each year?
a) One credit report each year
b) Three credit reports each year
c) One credit report from each credit bureau
d) Three credit reports from each credit bureau

If your credit reports show different scores, what should you do?
a) Nothing, the credit bureaus will recognize the mistake and fix it for you.
b) Get in touch with credit bureaus to see if they have different or inaccurate information on your credit history.
c) Research online to see how you can get into the system and fix it yourself.
d) Visit your local bank and have them fix it for you.

Which behaviors might lead someone to have a low credit score?
a) Missing a car payment.
b) Having a long credit history.
c) Always paying the full balance of a credit card each month.
d) Having a debit card.

What can a person do to help increase their credit score?
a) Charge all monthly expenses to the same credit card.
b) Use only a small percentage of your credit limit.
c) Research student loan terms online.
d) Open a savings account at a bank.

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