Okay, let’s take a break from the basics and test your retention. Answer the following questions below and, when you’re done, check your understanding!
1.) A Credit Report is a document that describes your…
b. Savings and checking accounts
c. Online banking habits
d. Voting record
2.) Credit Reports are generated by Credit Bureaus. A credit bureau is…
a. A company that extends credit
b. A company that offers personal loans
c. A company that collects information about a consumer’s credit rating
d. A company that investigates fraud
3.) You’re entitled to one free credit report every…
b. Six months
c. 12 months
d. 24 months
4.) What is NOT a section in your credit report?
a. Personal Information
b. Credit History
c. Criminal History
e. Public Records
5.) The Credit History section of your credit report contains information dating back…
a. 1 year
b. 5 years
c. 7 years
6.) A Hard Credit Inquiry is…
a. A credit inquiry run by the police
b. A credit inquiry run by a promotional credit card companies
c. A credit inquiry that does not affect your credit
d. A credit inquiry generally run when you’ve requested a new loan or line of credit
7.) A Soft Credit Inquiry is…
a. A credit inquiry that won’t harm your credit
b. A credit inquiry that will harm your credit
c. A form of identity theft
d. None of the above
8.) True or False? The Public Records section of your credit report contains your legal history like arrests and misdemeanors.
9.) True or False? You can dispute information on your credit report that you believe is inaccurate.
10.) What should you look for in your credit report?
a. Incorrect information
b. Suspicious information
c. Outdated information
d. All of the above
Answers: 1, a. 2, c. 3, c. 4, c. 5, c. 6, d. 7, a. 8, b. 9, a. 10, d
Table of Contents:
- Workbook Objectives
- Part I: Credit
- What does Your Credit Mean?
- Why is My Credit So Important?
- Let’s Make it Personal
- Expert Advice
- Credit Cards
- Who Offers Credit Cards?
- Credit Reflections: Credit
- Different Types of Credit
- Common Credit Mistakes
- Credit Card Tips
- Credit Quiz
- Part II: Understanding Your Credit Report
- Part III: Understanding Your Credit Score
- About The Experts
- About OppLoans
- Works Cited
- Part I: Credit