Financial Literacy Quiz
 
The current economic landscape has reminded all of us about the importance of understanding the intricacies of our financial profile. Now more than ever, it is critical for consumers to know where they stand with lenders and creditors, so they can make informed financial decisions. April is National Financial Literacy Month - the perfect time to test your knowledge of financial basics. Take this quiz to see where you stand…
 
1. Which of the following does not have a direct impact on your credit score?
        
                     1. Your payment history
                     2. Your credit utilization
                     3. Your new applications for credit
                     4. Your current credit card/mortgage interest rates
                     5. Length of your credit history
                     6. Not sure
        
2. What is the average interest rate on a consumer credit card?
        
                     1. 8-11%
                     2. 12-14%
                     3. 15-17%
                     4. 18-20%
                     5. Not sure
        
3. If a late payment is sent to collections, how long will it remain on your credit report even if you’ve paid it off?
        
                     1. 6-11 months
                     2. 1-3 years
                     3. 4-5 years
                     4. 6-7 years
                     5. Not sure
        
4. Which of the following is never included in a credit report?
        
                     1. Payment history
                     2. Birth date
                     3. Credit score
                     4. Employment history
                     5. Home address
                     6. Not sure