Credit Quiz 10 (25 MCQs)

Quiz Instructions:

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1. What do you have to have to declare bankruptcy?

2. Which of the following is considered to be open-end credit?

3. Another name for open ended credit is _____ credit

4. A credit score is intended to measure:

5. Which of the following statements about credit scores is TRUE?

6. Which is not a Credit Bureau.

7. In which of the following situations is having a good credit score important?

8. What would a 622 credit score be considered?

9. What is the single best thing you can do to help build a good credit score and keept it once you have it?

10. A responsible attitude toward honoring one's obligation?

11. A person who lends money or provides credit

12. Which is a Disadvantage of having credit?

13. A yearly fee that may be charged for having a credit card is known as:

14. What must you have in order to get a home equity loan?

15. If you go over your credit limit or make your payment late, you will likely be charged a

16. The complete record of your borrowing and repayment performance.

17. How do you ruin your credit?

18. You can access your credit report _____

19. How can you avoid paying interest fees on your credit card?

20. What are 2 of the top 5 factors that assist in calculating your credit score?

21. Safe place to store your money

22. Someone who borrows money or uses credit

23. Which of the following is NOT a type of secured loan:

24. A type of mortgage that has small payments that "grow" over time then requires the full payment of the mortgage.

25. An unsecured loan is one that