Credit True or False , Financial Literacy

Question 1

Credit reports and scores are created by the government like a driver’s license.

Accepted Answer

False

Question 2

Debt is the same thing as credit.

Accepted Answer

False

Question 3

Information in your credit report is used to make many decisions about you.

Accepted Answer

True

Question 4

If you're worried about debt, it may be a sign you have too much.

Accepted Answer

True

Question 5

Closing unused credit card accounts always helps your credit score.

Accepted Answer

False

Question 6

Cosigning a loan can affect your future ability to get a loan.

Accepted Answer

True

Question 7

About one in 10 U.S. consumers are considered “credit invisible.”

Accepted Answer

True

Question 8

Checking your credit report lowers your credit score.

Accepted Answer

False

Question 9

You have the right to tell a debt collector to stop calling you.

Accepted Answer

True

Question 10

Most Americans who file for bankruptcy because of medical debt didn’t have health insurance.

Accepted Answer

False

Question 11

There is no such thing as good debt.

Accepted Answer

False

Question 12

It’s normal for people to have more than one credit score.

Accepted Answer

True

Questions 12