Credit Quiz
Understanding Credit
- 1.
Employers can pull credit reports for which of the following reasons?
- A.
Hiring decisions
- B.
Promotion/ Reassignment decisions
- C.
Neither
- D.
Both
Correct Answer
D. Both -
- 2.
Which of the following should you do to improve your credit score?
- A.
Increase credit card spending to get close to your available limit
- B.
Avoid pulling your own credit report
- C.
Open new credit cards
- D.
Keep credit card balances low
- E.
All of the above
Correct Answer
D. Keep credit card balances low -
- 3.
Which of the following factors will have a negative impact on your credit score?
- A.
Payment history too new
- B.
High proportion of balances to limits
- C.
Too many inquiries in the past 12 months
- D.
Delinquent payments
- E.
All of the above
Correct Answer
E. All of the above -
- 4.
Which of the following may not report on your credit at all?
- A.
Department store credit card
- B.
Installment loan
- C.
Satisfied judgment
- D.
Bankruptcy
- E.
All of the above
Correct Answer
A. Department store credit card -
- 5.
True or False. Some companies can be hired to legally remove accurate, negative information from your credit report.
- A.
True
- B.
False
Correct Answer
B. False -
- 6.
True or False. All of the credit bureaus use the same scoring range.
- A.
True
- B.
False
Correct Answer
B. False -
- 7.
Which factor would have the greatest impact on your FICO score?
- A.
Length of credit history
- B.
Payment history
- C.
New credit
- D.
Types of credit in use
- E.
All factors have equal impact on your credit
Correct Answer
B. Payment history -
- 8.
True or False. If you are shopping for a car, inquiries made for that purpose within the past two weeks from various lenders will have an adverse effect on your credit score.
- A.
True
- B.
False
Correct Answer
B. False -
- 9.
Which of the following personal information is included in your credit bureau report?
- A.
Past five employers
- B.
Gender
- C.
Age
- D.
Ethnicity
- E.
All of the above
Correct Answer
C. Age -
- 10.
True or False. There is no such thing as a truly free credit report.
- A.
True
- B.
False
Correct Answer
B. False -
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Jan 10, 2013Quiz Edited by
ProProfs Editorial Team -
Mar 02, 2010Quiz Created by
Jfeirstine
Back to top