Life Skills Training For Caregivers And Youth: Understanding Your Credit (Nv)
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If you don’t agree with information that has been reported to one of the credit bureaus
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You can ignore it and explain the problem to the lender when you try to get a loan
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You should contact the credit bureau to let them know you dispute the information
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You should get an attorney
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You should do nothing unless all three bureaus have inaccurate information
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This quiz is worth. 5 Training Hours
Quiz Preview
- 2.
One of the best ways to start building a credit history is to
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Get a car loan
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Make a large purchase on a credit card
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Get a secured credit card with a low balance and pay it off monthly
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Make all of your daily purchases with a credit card
Correct Answer
A. Get a secured credit card with a low balance and pay it off monthly -
- 3.
Mortgages and car loans have no impact on your credit history.
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True
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False
Correct Answer
A. False -
- 4.
Your credit history may have an impact on
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The interest rate you pay on a credit card
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Your ability to get a job
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The rate you pay for car insurance
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All choices are correct
Correct Answer
A. All choices are correct -
- 5.
The highest credit score you can get is
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1000
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850
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750
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650
Correct Answer
A. 850 -
- 6.
There is no need for a young adult to check their credit report if they have not yet taken out any loans or applied for any credit cards.
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True
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False
Correct Answer
A. False -
- 7.
The top three factors impacting your credit score are
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Payment history, amount owed and Length of credit history
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Amount of new credit, Type of credit used, and Number of installment loans
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Frequency of applying for credit, frequency of requesting your credit report, and type of credit used
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Payment history, amount of new credit, and number of closed account
Correct Answer
A. Payment history, amount owed and Length of credit history -
- 8.
You are allowed, by law, to review your credit history for free
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Three times per year
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Once a year from each of the three major credit bureau agencies
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Once a year from only one of the major credit bureau agencies
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As frequently as once per month
Correct Answer
A. Once a year from each of the three major credit bureau agencies -
- 9.
When you request your own credit report from any or all of the credit bureaus, you don’t have to worry about points being deducted from your credit score.
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True
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False
Correct Answer
A. True -
- 10.
Student loans are considered
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Good debt
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Bad debt
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Outstanding debt
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Accessible debt
Correct Answer
A. Good debt -
Quiz Review Timeline (Updated): Apr 11, 2018 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Apr 11, 2018Quiz Edited by
ProProfs Editorial Team -
Dec 15, 2014Quiz Created by
Whitney
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