Credit Basics

8 Questions  I  By Wagatv
Please take the quiz to rate it.

Business Quizzes & Trivia
Think you know the some basic financial information? Try this quiz and see if you do. . . .

  
Changes are done, please start the quiz.


Questions and Answers

Removing question excerpt is a premium feature

Upgrade and get a lot more done!
  • 1. 
    A credit report is:
    • A. 

      A list of your financial assets and liabilities

    • B. 

      Your monthly credit card statement

    • C. 

      A loan and bill payment history

    • D. 

      Your credit line with your financial institution


  • 2. 
    A reverse mortgage is:
    • A. 

      A rising debt loan

    • B. 

      Only available to someone 62 years of age or older

    • C. 

      Generally not tied to income

    • D. 

      All of the above


  • 3. 
    Who insures your stocks in the stock market?
    • A. 

      The Federal Deposit Insurance Corporation

    • B. 

      The Securities and Exchange Commission

    • C. 

      The U.S. Department of the Treasury

    • D. 

      None of the above


  • 4. 
    Negative financial information (excluding bankruptcy) can stay on your credit report for:
    • A. 

      2 years

    • B. 

      5 years

    • C. 

      7 years

    • D. 

      10 years


  • 5. 
    In financial transactions, a CD is:
    • A. 

      Certificate of Debt

    • B. 

      Certificate of Deposit

    • C. 

      Citizens Deposit

    • D. 

      Certificate of Collateral


  • 6. 
    The "Rule of 72" tells you how long it will take to double your money.
    • A. 

      True

    • B. 

      False


  • 7. 
    What do "points" refer to in the home mortgage application process?
    • A. 

      One point equals 1% of the purchase price, paid to the seller

    • B. 

      One point equals 1% of the purchase price, paid the lender

    • C. 

      One point equals 1% of the loan amount, paid to the lender


  • 8. 
    By using unit pricing at the grocery store, you can easily compare the cost of any brand and any package size.
    • A. 

      True

    • B. 

      False


Back to top

Removing ad is a premium feature

Upgrade and get a lot more done!
Take Another Quiz
We have sent an email with your new password.