Credit Essentials Quiz
Click on questions below to pick your answers.
A form of credit card that requires payment in full each month is called a (______)
Bank Card
Charge Card
Retail Card
Zero Interest Card
None of the Above
A loan that is backed by a security is known as (______)
Line of Credit
Cash Advance
Protected Credit
Unsecured Credit
None of the Above
(______) is the private organization that created the FICO Score model
Fitzgerald & Partners
Fannie Mae
Financial Interests Company
Fair Isaac Corporation
None of the Above
Any information included in your credit report that a creditor or other interested party would view as a reason to consider denying you a loan or rejecting you as an applicant is known as(______)
Adverse Information
Substantial Information
Critical Information
Default Information
None of the Above
Credit card balances and auto loans are examples of what kind of debt?
Amortized
Temporary
Consumer
Federal
None of the Above
This is a mathematical model used to assess a consumer's likelihood of default on a loan or a credit card account
Credit Score
FICO Score
Credit Scale
CDC Score
None of the Above
An individual who agrees to be responsible for repaying a debt if the primary borrower defaults is called a (______)
Co-signer
Leasee
Creditor
Delinquent
None of the Above
APR stands for (______)
Annual Percentage Rate
Amortized Principle Rate
Aggregate Percentage Ratio
Assumed Prorated Ratio
None of the Above
How many digits make up your credit score?
1
2
3
4
5