Credit Quiz

1.The three agencies that most often collect credit data are Experian, TransUnion and . . .
-- Choose an answer -- a) National Association of Credit Management b) Bank of America c) Equifax

2. True or false - Income level is considered when developing a credit score.
-- Choose an answer -- a) True b) False

3. True or false - Small, recent late payments are viewed as more derogatory than large late payments that happened more than two years ago.
  -- Choose an answer -- a) True b) False

4. True or false - Requests for your credit report by potential employers will affect your credit score.
-- Choose an answer -- a) True b) False

5. True or false - Closing credit accounts will always improve a person's credit score.
  -- Choose an answer -- a) True b) False

6. Collections will show on a credit report for ______ years.
-- Choose an answer -- a) 10 b) 7 c) 3

7.How often should you look at a copy of your credit report?
-- Choose an answer -- a) At least every six months b) Every year c) Once every five years

8.If you see incorrect information on your credit report you should . . . .
-- Choose an answer -- a) Notify the credit bureau about the error within 5 days of receiving the report b) Do nothing c) Contact your bank

9.  Consumer credit reports look at a person's entire credit history.  Mortgage credit reports look at the credit history for what period of time?
-- Choose an answer -- a) The entire credit history - there is no time limit b) The last 4 years c) The last 2 years

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