Credit Quiz 8 (25 MCQs)

Quiz Instructions:

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1. A measure of your financial responsibility, often based on your credit history

2. FICO Scores are calculated from a lot of different credit data in your credit report and are scored from _____ to _____

3. An APR that may change depending on other factors.

4. They are called revolving credit accounts because

5. Jean Chatzky said you have to do something how many times for it to become a habit?

6. Which one is any fee associated with credit.

7. Compounding interest is great when you are saving. How do you feel about it when it comes to loans?

8. Experian, Equifax and TransUnion are the names of

9. What is the correlation between your credit score and your credit worthiness.

10. O nly making the minimum payment on a credit card every month will:

11. Which of the following is NOT a safety tip to remember with credit cards?

12. FICO stands for Fair _____ Corporation.

13. What is unique about an unsecured loan?

14. A mortgage with higher interest rate that is sold to borrowers with low credit scores.

15. All of the following are examples of benefits of credit, EXCEPT:

16. Is a 'depository institution'

17. Which is not one of the ways that the Fair Credit Reporting Act of 1970 protects consumers?

18. Why is good credit a necessity?

19. Type of loan used specifically for purchasing a home is a _____

20. Interest or a fee charged for buying on credit

21. What is the risk of a Payday loan?

22. Person or organization in need of credit

23. Your credit limit or line of credit is based on your

24. FICO stays for _____

25. The Truth in Lending Act of 1968 requires creditors to: