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- 1. Multiple Choice
Why is it important to establish positive credit history?
Higher credit scores result in lower interest rates on loans
You are more likely to be offered a loan by a bank
Positive credit history results in higher credit scores
All of the above
- 2. Multiple Choice
How long will a negative credit action usually remain on a credit report?
4 years
11 years
7 years
15 years
- 3. Multiple Choice
What is important in establishing good credit?
Making payments on time
Being late on payments
Spending 100% of your credit limit
Missing a payment
- 4. Multiple Choice
What is included under credit history on a credit report?
Date of birth
Late payments
- 5. Multiple Choice
Late payments can help create a high credit score
True
False
- 6. Multiple Choice
Who would be more likely to get a car loan?
Dave with a credit score 560
Julie with a credit score 780
- 7. Multiple Choice
A person, or a financial institution that lends money, and in return charges interest?
Borrower
Lender
- 8. Multiple Choice
A person who takes and uses a sum of money under an
agreement to pay it back?
Borrower
Lender
- 9. Multiple Choice
Information about my purchases in cash or with a debit card appear on my credit report
True
False
- 10. Multiple Choice
Which information would NOT appear on your credit report?
Credit Card balance
Car loan
Mortgage
Debit Card balance
- Answer choicesTagsAnswer choicesTags