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Credit Quiz 5 (25 MCQs)

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1. Which of the following actions can NEGATIVELY impact your credit score?

2. What is #2 for steps to get out of debt?

3. Borrowing a set amount with equal monthly payments

4. A credit score of 800 is considered _____

5. _____ is the amount of money you pay to use someone else's money.

6. How often can you get your free credit reports (from each bureau)?

7. You should only use credit when _____

8. Credit is based on the concept of _____

9. A contracted agreement to pay a debt if the borrower does not pay it

10. Owned by their customers

11. A letter grade based on a consumer's credit score that indicates his or her creditworthiness?

12. Which behaviors might lead someone to have a low credit score?

13. A business that gathers, stores, and sells credit information to other businesses?

14. Which membership is exclusive, or requires something special?

15. This term refers to the type of accounts that make up a consumer's credit report.

16. Firm that collects information about the credit-worthiness of consumers

17. What organization provides insurance to credit unions?

18. The legal process to get out of debt when you can no longer make all your payments is called _____

19. A car loan is an example of

20. What is a credit report?

21. All of the following are dangers of credit, EXCEPT:

22. The amount of time your are obligated to make payments on a loan is the

23. A legal process in which PEOPLE who cannot pay the debts must surrender most of their property.

24. Money received, especially on a regular basis, for work or through investments

25. The smallest payment a customer can make each statement period to keep the account in good standing. This is based on the balance during that pay period.

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Credit Quiz 5 (25 MCQs)

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