Tips and Tools For Financial Success - Newton Free Library
Tips and Tools For Financial Success - Newton Free Library
Tips and Tools For Financial Success - Newton Free Library
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Credit Quiz<br />
1. A credit report tells lenders:<br />
a. Whether there is negative information about you in public records<br />
b. Whether you have made payments on time<br />
c. How much debt you have<br />
d. All of the above<br />
2. Which of the following is not a major credit reporting agency?<br />
a. American Express<br />
b. Equifax<br />
c. Experion<br />
d. TransUnion<br />
3. How long does your tax lien remain on your credit report?<br />
a. 2 years<br />
b. 5 years<br />
c. 7 years<br />
d. <strong>For</strong>ever<br />
4. Credit reports do not contain:<br />
a. Income<br />
b. Checking <strong>and</strong> savings account balances<br />
c. Business account information<br />
d. All of the above<br />
5. Lenders might deny a loan for all of the following reasons except:<br />
a. Credit problems in the past<br />
b. Marital status<br />
c. No credit history<br />
d. a tax lien<br />
6. The FICO Model takes into account several factors when evaluating credit worthiness. Which<br />
factor has the greatest impact on your score?<br />
a. Outst<strong>and</strong>ing debt<br />
b. How long you have had certain credit<br />
c. Past payment history<br />
d. Types of credit<br />
7. How often can you get a free copy of your credit report?<br />
a. Once a year<br />
b. Twice a year<br />
c. Every 2 years<br />
d. Only if you have a credit problem<br />
100
Change language