H&R block budget quiz 3 || with Certified Answers.
How does credit utilization affect your credit score? correct answers Keeping credit utilization
below 30% increases your score.
Which would not be identifying information included in a credit report? correct answers Marital
status
What would be the most likely difference between loans offered to someone with a good credit
score versus a loan offered to someone with an excellent score? correct answers The person with
good credit will pay a higher interest rate than the person with excellent credit.
Which best describes the main role of the three major credit reporting agencies? correct answers
Compile consumer credit and loan information and provide it to lenders and businesses
Which is the best way for a college student to start building their credit score? correct answers
Apply for a credit card, use it to make small purchases and pay the full balance each month.
Which of the following does not use consumer credit scores in the course of business? correct
answers Graduate schools for admissions purposes
Which is the best definition of credit? correct answers An agreement to receive goods or services
with a commitment to pay later.
Which reports on-time payments as positive transactions for a credit report? correct answers Car
loan payment
Which is an example of an open-ended revolving loan? correct answers Credit card
Which is not a benefit of using a credit card when traveling? correct answers It can be used as a
legal form of identification in most states.
How does credit utilization affect your credit score? correct answers Keeping credit utilization
below 30% increases your score.
Which would not be identifying information included in a credit report? correct answers Marital
status
What would be the most likely difference between loans offered to someone with a good credit
score versus a loan offered to someone with an excellent score? correct answers The person with
good credit will pay a higher interest rate than the person with excellent credit.
Which best describes the main role of the three major credit reporting agencies? correct answers
Compile consumer credit and loan information and provide it to lenders and businesses
Which is the best way for a college student to start building their credit score? correct answers
Apply for a credit card, use it to make small purchases and pay the full balance each month.
Which of the following does not use consumer credit scores in the course of business? correct
answers Graduate schools for admissions purposes
Which is the best definition of credit? correct answers An agreement to receive goods or services
with a commitment to pay later.
Which reports on-time payments as positive transactions for a credit report? correct answers Car
loan payment
Which is an example of an open-ended revolving loan? correct answers Credit card
Which is not a benefit of using a credit card when traveling? correct answers It can be used as a
legal form of identification in most states.
