#1
Which of the following factors does NOT affect your credit score?
Credit card balances
Income level
Payment history
Length of credit history
#2
What is the importance of a good credit score?
To get approved for loans and credit cards
To have a higher income
To receive discounts on purchases
To improve physical health
#3
What is the typical range for a credit score?
100-500
300-850
600-1000
200-700
#4
Which of the following is NOT a credit reporting agency?
TransUnion
Equifax
Experian
Federal Reserve
#5
What is the name of the law that allows consumers to access their credit reports for free once a year?
Fair Credit Reporting Act (FCRA)
Consumer Credit Protection Act (CCPA)
Truth in Lending Act (TILA)
Fair Debt Collection Practices Act (FDCPA)
#6
Which of the following factors is NOT considered when calculating your credit score?
Employment history
Amount of available credit
Length of credit history
Number of recent credit inquiries
#7
Which of the following actions can help improve your credit score?
Closing old credit accounts
Applying for multiple credit cards at once
Making timely bill payments
Ignoring your credit report
#8
What is the significance of credit utilization ratio in credit scoring?
It measures the length of credit history
It measures the amount of debt relative to credit limits
It measures the diversity of credit accounts
It measures the number of recent credit inquiries
#9
What is the term for a negative mark on your credit report?
Credit boost
Credit blemish
Credit bruise
Credit inquiry
#10
How long does a late payment typically remain on your credit report?
1 year
3 years
5 years
7 years
#11
What is the term for the highest credit score possible?
Perfect score
Prime score
Superior score
Excellent score
#12
Which of the following debts is typically NOT included in your credit report?
Credit card debt
Mortgage debt
Medical debt
Utility bill debt
#13
How often can you check your credit report without affecting your score?
Once a year
Once every six months
Once every month
Unlimited times
#14
Which of the following factors has the most significant impact on your credit score?
Length of credit history
Types of credit in use
New credit accounts
Payment history
#15
What is the primary purpose of a credit score?
To determine eligibility for government benefits
To predict the likelihood of default on credit obligations
To measure personal wealth
To assess educational background
#16
What type of inquiry can affect your credit score negatively?
Soft inquiry
Hard inquiry
Pre-approval inquiry
Initial inquiry
#17
What is the term for the practice of moving debt from one credit card to another to take advantage of a lower interest rate?
Debt consolidation
Balance transfer
Credit freezing
Debt settlement