2

1. What is a reporting agency that assembles information on borrowers to help lenders evaluate credit worthiness? (You are entitled to see your credit report and dispute or add to the information you feel is erroneous).

   a.	Credit issuing agency
   b.	Credit bureau
   c.	Bank
   d.	Mini credit report

2.5 points

QUESTION 3

1. Multiple soft inquiries add up to one hard inquiry on your credit report.

   True

   False

2.5 points

QUESTION 4

1. A credit rule of thumb is that products should outlive their credit card payments.

   True

   False

2.5 points

QUESTION 5

1. Individuals with extremely good credit history benefit from lending relationships.

   True

   False

2.5 points

QUESTION 6

1. How do identity thieves keep delinquent credit notices off your radar?

   a.	Change the name used
   b.	Change the phone number used
   c.	Change the billing address used
   d.	Change the bank used

2.5 points

QUESTION 7

1. Credit cards have different liabilities than debit cards. You need to know this in case your cards are ever lost or stolen.

   True

   False

2.5 points

QUESTION 8

1. Consumers know the exact formula used to calculate credit scores.

   True

   False

2.5 points

QUESTION 9

1. When you co-sign on a loan, you are also liable for the account and it will show up on your credit report too.

   True

   False

2.5 points

QUESTION 10

1. Your credit score is not adversely affected if you check it yourself.

   True

   False