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F/L Unit 7 QUIZ

Quiz by Teresa

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31 questions
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  • Q1
    It is a summary of a person's borrowing and repayment history
    Credit History
    30s
  • Q2
    It is a record of a person's credit history.
    Credit Report
    30s
  • Q3
    is the ability to borrow money based on the trust that payment will be made in the future.
    credit
    30s
  • Q4
    They are Equifax, TransUnion and Experian
    3 credit bureaus
    30s
  • Q5
    Credit score from 300-850 that rates how likely a person is to fall 90 days behind in a payment.
    FICO score
    30s
  • Q6
    a measure of a person's ability and willingness to make credit payments on time.
    credit rating
    30s
  • Q7
    a borrower's financial track record in the form of borrowing history.
    credit profile
    30s
  • Q8
    One of the factors of the FICO score that shows a history of the payments you have made on all credit you have obtained.
    Payment History (35%)
    30s
  • Q9
    One of the factors of the FICO score that shows the number of accounts with a balance and how much owed on each loans still owed.
    amount owed (30%)
    30s
  • Q10
    One of the factors of the FICO score that shows the Numbers of year you have credit
    Lenght history (15%)
    30s
  • Q11
    One of the factors of the FICO score that shows the number of recently opened accounts, recent credit inquiries, time since account openings and credit inquiries.
    New Credit (10%)
    30s
  • Q12
    One of the factors of the FICO score that shows the number of credit accounts and and mix of credit types you have.
    Type of credit (10%)
    30s
  • Q13
    Money owed when using credit to buy goods and services.
    debt
    30s
  • Q14
    It's the difference between assets and liabilities
    net worth
    30s
  • Q15
    Student loan is an example of
    good debt
    30s

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