Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Quiz
To help us track the demographics of the clients we serve, please answer the following questions. We will not share any of your individual personal information with any third party organization.
First name: Last name: Age:
State of residence: Annual Income ($):  

1. A credit reporting agency's role is to:

Collect and compile your credit and financial information
Approve and deny offers of credit
Provide credit reports to anyone who asks

2. To guard against errors and fraud, it is best to review your credit reports:

Every month
Only when problems arise
At least annually

3. Late payments will be evident on a credit report for:

A.Two years
Seven years
Ten years

4. The four categories of all credit reports are identification, trade lines, inquiries, and ___:

Public records
Credit scores

5. A FICO score ranges from:

300 to 850
500 to 850
300 to 1,000

6. For FICO scores, the category of information that carries the greatest weight is:

Amounts owed
Payment history

7. Which of the following is a good credit habit to have?:

Transferring balances to low rate cards
Keeping balances at 90 percent of the credit limit
Avoiding excess credit applications

8. A good way to reestablish damaged credit is to:

Obtain and use a debit card
Obtain and use a secured credit card
Close all unused accounts

9. If you spot inaccurate information on your credit report, first:

Dispute the information with the credit bureau
Dispute the information with the creditor that reported the error
Add a 100-word statement of explanation to your credit file

10. A credit bureau has _______ days to investigate your dispute:


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