This quiz works best with JavaScript enabled. Home > Finance > Credit > Credit – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Credit Quiz 13 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What does good credit say about you? A) That you make a lot of money. B) That you have many credit cards. C) That you are easy to trust with a loan or credit card. D) None of above. Show Answer Correct Answer: C) That you are easy to trust with a loan or credit card. 2. Your credit score falls between what range? A) 300-800. B) 300-850. C) 350-800. D) 350-850. Show Answer Correct Answer: B) 300-850. 3. Earnings from work or investment A) Income. B) Outcome. C) Overcome. D) Underwhelm. Show Answer Correct Answer: A) Income. 4. Which of the following is not a type of revolving account? A) Gift card. B) Store credit card. C) Gas Card. D) Visa Card. Show Answer Correct Answer: A) Gift card. 5. A measure of your financial responsibility, often based on your credit history A) Capacity. B) Character. C) Collateral. D) Capital. Show Answer Correct Answer: B) Character. 6. FICO Scores are calculated from a lot of different credit data in your credit report and are scored from ..... to ..... A) 100 to 1600. B) 300 to 850. C) 1 to 36. D) 1 to 2400. Show Answer Correct Answer: B) 300 to 850. 7. An APR that may change depending on other factors. A) Introductory Rate. B) APR. C) Penalty APR. D) Variable-Rate APR. Show Answer Correct Answer: D) Variable-Rate APR. 8. They are called revolving credit accounts because A) It was a revolutionary concept when first created. B) These accounts circle around your credit. C) They can be an ongoing cycle of borrowing and repaying. D) None of above. Show Answer Correct Answer: C) They can be an ongoing cycle of borrowing and repaying. 9. A detailed report of an individual's credit history A) Credit Report. B) Credit Score. C) Creditor. D) Credit history. Show Answer Correct Answer: A) Credit Report. 10. Jean Chatzky said you have to do something how many times for it to become a habit? A) 10. B) 15. C) 21. D) 50. Show Answer Correct Answer: C) 21. 11. Number of Reserve Banks in a country is A) Two. B) Three. C) One. D) Five. Show Answer Correct Answer: C) One. 12. Which one is any fee associated with credit. A) Foreclosure. B) Minimum Payment. C) Credit Report Fee. D) Finance Charge. Show Answer Correct Answer: D) Finance Charge. 13. Which body (authority) supervises the functioning of formal sources of loans? A) Finance Ministry. B) Head Office of each Bank. C) Reserve Bank of India. D) Cooperative Societies. Show Answer Correct Answer: C) Reserve Bank of India. 14. Compounding interest is great when you are saving. How do you feel about it when it comes to loans? A) It is the best thing ever!. B) I can take it or leave it. C) No thank you. The loan already costs enough. D) None of above. Show Answer Correct Answer: C) No thank you. The loan already costs enough. 15. Experian, Equifax and TransUnion are the names of A) Banks. B) Credit bureaus. C) Credit card companies. D) Government agencies. Show Answer Correct Answer: B) Credit bureaus. 16. What is the correlation between your credit score and your credit worthiness. A) The lpwer your credit score, the more creditworthy you are. B) The higher your credit score, the more creditworthy you will be. C) There is no correlation between credit score and creditworthiness. D) None of above. Show Answer Correct Answer: B) The higher your credit score, the more creditworthy you will be. 17. O nly making the minimum payment on a credit card every month will: A) Lower the amount total paid for the purchase. B) Make you independently wealthy. C) Take longer to pay off which will result in paying more interest, more money!. D) Pay off the credit card faster. Show Answer Correct Answer: C) Take longer to pay off which will result in paying more interest, more money!. 18. Which of the following is NOT a safety tip to remember with credit cards? A) Shred any unwanted credit card offers or cards from the mail. B) Keep a lists of all cards, account numbers and phone numbers. C) Do not leave Cards lying around. D) Open as many credit card accounts as possible. Show Answer Correct Answer: D) Open as many credit card accounts as possible. 19. FICO stands for Fair ..... Corporation. A) Industry. B) Interest. C) Isaac. D) Insider. Show Answer Correct Answer: C) Isaac. 20. What is unique about an unsecured loan? A) Require no collateral. B) Require collateral. C) Interest free. D) Don't affect your credit score. Show Answer Correct Answer: A) Require no collateral. ← PreviousNext →Related QuizzesFinance QuizzesCredit Quiz 1Credit Quiz 2Credit Quiz 3Credit Quiz 4Credit Quiz 5Credit Quiz 6Credit Quiz 7Credit Quiz 8Credit Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books