Test your Financial Knowledge
2. What is the difference between a credit score and a credit report?
A credit score is like a grade and a credit report is like a report card. A credit report contains the details of all the credit decisions you have made in the past. Loans, open credit cards, and all line of credit along with dates were opened are on the report. It also outlines how much you owe. A credit score is like a grade on your credit report.
Credit score vs. credit report (for more information visit https://www.wellsfargo.com)
4. What is the highest form of initial contact for fraud?
A. Mail B. Email C. Internet Site
B. Email. Make sure to always verify who your email is coming from before opening links!
Credit card statistics (for more information visit http://www.creditcards.com)
5. How long should you be able to live on your emergency savings?
A. 1-3 months B. 3-6 months C. 6-9 months
B. 3 to 6 months! These savings should be able to cover emergency car bills, rent, etc.
Emergency savings (for more information visit http://dfi.wa.gov)