Question 1

Which one is a consequence of having low credit when trying to buy a car or home?

Accepted Answer

You have a high interest rate

Answer

You have a low interest rate

Answer

You have a low down payment

Answer

You do not need a cosigner

Question 2

What is the definition of a “thin file”?

Accepted Answer

You have very little credit history

Answer

You have too much credit history

Answer

You have many credit cards

Answer

You have a lot of debt

Question 3

What does the Equal Credit Opportunity Act do?

Accepted Answer

You cannot be denied opportunities for a loan

Answer

You can be denied a loan for no reason

Answer

You need to have a large down payment for a loan

Answer

You need to have 3 cosigners

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