Life Skills Training For CAregivers And Youth: Understanding Your Credit (CA)
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This training was 0.5 hours in length.
- 1.
You are allowed, by law, to review your credit history for free
- A.
You are allowed, by law, to review your credit history for free three times per year
- B.
Once a year from each of the three major credit bureau agencies
- C.
Once a year from only one of the major credit bureau agencies
- D.
As frequently as once per month
Correct Answer
B. Once a year from each of the three major credit bureau agencies -
- 2.
Mortgages and car loans have no impact on your credit history.
- A.
True
- B.
False
Correct Answer
B. False -
- 3.
Your credit history may have an impact on
- A.
The interest rate you pay on a credit card
- B.
Your ability to get a job
- C.
The rate you pay for car insurance
- D.
All choices are correct
Correct Answer
D. All choices are correct -
- 4.
Your credit history may have an impact on
- A.
The interest rate you pay on a credit card
- B.
Your ability to get a job
- C.
The rate you pay for car insurance
- D.
All choices are correct
Correct Answer
D. All choices are correct -
- 5.
Student loans are considered
- A.
Good debt
- B.
Bad debt
- C.
Outstanding debt
- D.
Accessible debt
Correct Answer
A. Good debt -
- 6.
The highest credit score you can get is
- A.
1000
- B.
850
- C.
750
- D.
650
Correct Answer
B. 850 -
- 7.
The top three factors impacting your credit score are
- A.
Payment history, amount owed and Length of credit history
- B.
Amount of new credit, Type of credit used, and Number of installment loans
- C.
Frequency of applying for credit, frequency of requesting your credit report, and type of credit used
- D.
Payment history, amount of new credit, and number of closed account
Correct Answer
A. Payment history, amount owed and Length of credit history -
- 8.
If you don’t agree with information that has been reported to one of the credit bureaus
- A.
You can ignore it and explain the problem to the lender when you try to get a loan
- B.
You should contact the credit bureau to let them know you dispute the information
- C.
You should get an attorney
- D.
You should do nothing unless all three bureaus have inaccurate information
Correct Answer
B. You should contact the credit bureau to let them know you dispute the information -
- 9.
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.
- A.
True
- B.
False
Correct Answer
B. False -
- 10.
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.
- A.
True
- B.
False
Correct Answer
A. True -
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Current Version
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Apr 11, 2018Quiz Edited by
ProProfs Editorial Team -
Feb 25, 2015Quiz Created by
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