Financial Literacy
2 years ago
varney01
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14 QuestionsShow answers
  • Question 1
    60 seconds
    Q. Which of the following can be damaging to a person's credit history?
    answer choices
    Having 15 accounts open with high balances
    Making minimum monthly payments on due date
    Having one hard inquiry on a credit report
    Having multiple addresses listed in personal information
  • Question 2
    30 seconds
    Q. How many free credit reports is a person allowed in one year?
    answer choices
    1
    2
    Unlimited
    None
  • Question 3
    60 seconds
    Q. Wendy wants to improve her credit score. Which of the following actions will help Wendy improve her score?
    answer choices
    Pay the minimum amount due on credit cards and loans.
    Close any accounts that have a zero balance. 
    Make all monthly payments on or before due date. 
    Take out additional loans to pay off current debt. 
  • Question 4
    60 seconds
    Q. What is one advantage of using a credit card over a debit card?
    answer choices
    Using a credit card never has an advantage over using a debit card. 
    Colleges may look at a person's credit history before accepting them into school.
    Apartment managers or landlords may look at a person's credit history before renting. 
    Using a credit card responsibly can build positive credit history. 
  • Question 5
    30 seconds
    Q. How long does negative information stay on your credit report?
    answer choices
    5 years
    7 years
    15 years
    Forever
  • Question 6
    30 seconds
    Q. If you file for bankruptcy, how long will that stay on your credit report?
    answer choices
    10 years
    12 years
    30 years
    Forever
  • Question 7
    30 seconds
    Q. A score at 750 on your credit report is pretty good. 
    answer choices
    True
    False
  • Question 8
    30 seconds
    Q. Credit cards take money directly out of your bank account. 
    answer choices
    True 
    False
  • Question 9
    60 seconds
    Q. One of the main features of a debit card is
    answer choices
    You have to pay interest on purchases
    You get to make payments over time
    The money comes directly from your checking account
    You have to apply for one
  • Question 10
    60 seconds
    Q. All of the following can appear on your credit report, EXCEPT
    answer choices
    Salary
    If you've been arrested
    Money you borrowed from your aunt
    The number of credit accounts you have open
  • Question 11
    180 seconds
    Q. If a plumber earns $55,100 per year and an electrician earns $59,500 per year, how much more money would the electrician earn over the plumber in 20 years?
    answer choices
    $4,400.00
    $4,500.00
    $44,000.00
    $88,000.00
  • Question 12
    180 seconds
    Q. If a school counselor earns $63,600 per year and an assistant principle earns $83,500 per year, how much more would would the assistant principal earn than the school counselor over 10 years?
    answer choices
    $20,900.00
    $19,900.00
    $199,000.00
    $398,000.00
  • Question 13
    60 seconds
    Q. ____________________ will negatively affect your credit score. 
    answer choices
    Moving to an apartment
    Paying late on your car loan
    Forgetting your sisters birthday
    Forgetting to pay mom back for the lmoney you borrowed.
  • Question 14
    30 seconds
    Q. When you apply for college, they look at your credit report?
    answer choices
    True
    False
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