{"introPage":{"showIntroPage":false,"startButtonText":"Start Quiz","introduction":""},"progressType":"dots","passPercentage":50,"questions":[{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":true,"tipsAndFeedback":{"chosenFeedback":"

Buying on credit refers to an agreement to purchase a good or service with the promise to pay it back later. The most common form of buying on credit is with the use of credit cards. Credit relates to your credit score which can increase your likelihood of acquiring loans and higher credit lines.<\/div>\n","notChosenFeedback":"

(A) A customer's ability to obtain goods or services before payment, based on the trust that payment will be made in the future.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) A lump sum of money that is repaid over a fixed term.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(C) An asset or item acquired intending to generate income or appreciation.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(D) An obligation that requires one party to pay money or other agreed-upon value to another party.<\/div>\n"}],"overallFeedback":[{"from":0,"to":100}],"behaviour":{"enableRetry":true,"enableSolutionsButton":true,"enableCheckButton":true,"type":"auto","singlePoint":false,"randomAnswers":false,"showSolutionsRequiresInput":true,"confirmCheckDialog":false,"confirmRetryDialog":false,"autoCheck":false,"passPercentage":100,"showScorePoints":true},"UI":{"checkAnswerButton":"Check","submitAnswerButton":"Submit","showSolutionButton":"Show solution","tryAgainButton":"Retry","tipsLabel":"Show tip","scoreBarLabel":"You got :num out of :total points","tipAvailable":"Tip available","feedbackAvailable":"Feedback available","readFeedback":"Read feedback","wrongAnswer":"Wrong answer","correctAnswer":"Correct answer","shouldCheck":"Should have been checked","shouldNotCheck":"Should not have been checked","noInput":"Please answer before viewing the solution","a11yCheck":"Check the answers. The responses will be marked as correct, incorrect, or unanswered.","a11yShowSolution":"Show the solution. The task will be marked with its correct solution.","a11yRetry":"Retry the task. Reset all responses and start the task over again."},"confirmCheck":{"header":"Finish ?","body":"Are you sure you wish to finish ?","cancelLabel":"Cancel","confirmLabel":"Finish"},"confirmRetry":{"header":"Retry ?","body":"Are you sure you wish to retry ?","cancelLabel":"Cancel","confirmLabel":"Confirm"},"question":"

What is credit?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 1"},"subContentId":"9427c8bd-aee0-4f56-b697-b253e6ec163e"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(A) Revolving.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) Installments.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

Revolving credit refers to an open-ended credit account that can be used and paid off repeatedly while the account is kept open. Open-ended credit accounts typically include credit cards, personal lines of credit, and home equity lines of credit. Installment credit refers to a loan for a fixed amount of money that gets paid off in monthly payments at a fixed dollar amount. Examples include auto loans, mortgage loans, personal loans, and student loans. Open credit is based on a financial arrangement between a lender and a borrower, which allows the borrower to access credit up to a specific limit. Once the borrower starts making repayments, they can reaccess the money.<\/div>\n","tip":"","notChosenFeedback":"

(D) All of the above.<\/div>\n"}],"overallFeedback":[{"from":0,"to":100}],"behaviour":{"enableRetry":true,"enableSolutionsButton":true,"enableCheckButton":true,"type":"auto","singlePoint":false,"randomAnswers":false,"showSolutionsRequiresInput":true,"confirmCheckDialog":false,"confirmRetryDialog":false,"autoCheck":false,"passPercentage":100,"showScorePoints":true},"UI":{"checkAnswerButton":"Check","submitAnswerButton":"Submit","showSolutionButton":"Show solution","tryAgainButton":"Retry","tipsLabel":"Show tip","scoreBarLabel":"You got :num out of :total points","tipAvailable":"Tip available","feedbackAvailable":"Feedback available","readFeedback":"Read feedback","wrongAnswer":"Wrong answer","correctAnswer":"Correct answer","shouldCheck":"Should have been checked","shouldNotCheck":"Should not have been checked","noInput":"Please answer before viewing the solution","a11yCheck":"Check the answers. The responses will be marked as correct, incorrect, or unanswered.","a11yShowSolution":"Show the solution. The task will be marked with its correct solution.","a11yRetry":"Retry the task. Reset all responses and start the task over again."},"confirmCheck":{"header":"Finish ?","body":"Are you sure you wish to finish ?","cancelLabel":"Cancel","confirmLabel":"Finish"},"confirmRetry":{"header":"Retry ?","body":"Are you sure you wish to retry ?","cancelLabel":"Cancel","confirmLabel":"Confirm"},"question":"

What are the different types of credit?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 2"},"subContentId":"de7fd913-eb11-4c47-910f-625f66fd4bbf"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(A) A number between 300\u2013850 that depicts a consumer's creditworthiness.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) A number between 300\u2013850 that allows you to apply for a credit card.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(C) A record of the borrower's credit history from several sources, including banks, credit card companies, collection agencies, and governments.<\/div>\n"},{"correct":true,"tipsAndFeedback":{"chosenFeedback":"

A credit score is a number between 300 and 850 that depicts a consumer's creditworthiness. This number is based on a record of the borrower's credit history, including several sources, including banks, credit card companies, collection agencies, and governments.<\/div>\n","tip":"","notChosenFeedback":"

(D) Both A and C.<\/div>\n"}],"overallFeedback":[{"from":0,"to":100}],"behaviour":{"enableRetry":true,"enableSolutionsButton":true,"enableCheckButton":true,"type":"auto","singlePoint":false,"randomAnswers":false,"showSolutionsRequiresInput":true,"confirmCheckDialog":false,"confirmRetryDialog":false,"autoCheck":false,"passPercentage":100,"showScorePoints":true},"UI":{"checkAnswerButton":"Check","submitAnswerButton":"Submit","showSolutionButton":"Show solution","tryAgainButton":"Retry","tipsLabel":"Show tip","scoreBarLabel":"You got :num out of :total points","tipAvailable":"Tip available","feedbackAvailable":"Feedback available","readFeedback":"Read feedback","wrongAnswer":"Wrong answer","correctAnswer":"Correct answer","shouldCheck":"Should have been checked","shouldNotCheck":"Should not have been checked","noInput":"Please answer before viewing the solution","a11yCheck":"Check the answers. The responses will be marked as correct, incorrect, or unanswered.","a11yShowSolution":"Show the solution. The task will be marked with its correct solution.","a11yRetry":"Retry the task. Reset all responses and start the task over again."},"confirmCheck":{"header":"Finish ?","body":"Are you sure you wish to finish ?","cancelLabel":"Cancel","confirmLabel":"Finish"},"confirmRetry":{"header":"Retry ?","body":"Are you sure you wish to retry ?","cancelLabel":"Cancel","confirmLabel":"Confirm"},"question":"

What is a credit score?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 3"},"subContentId":"21713caa-5075-4030-a5b8-4dfe6147d97c"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(A) Your payment history.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) The amounts that you owe.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

The most important factor of your credit score is your payment history, or how you've managed your credit accounts. Close behind is the amounts owed\u2014and more specifically how much of your available credit you're using\u2014on your credit accounts.<\/div>\n","notChosenFeedback":"

What factors go in to a credit score calculation?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 4"},"subContentId":"c64eabb9-5ae5-48c1-9c33-54cfb778b82d"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":true,"tipsAndFeedback":{"chosenFeedback":"

Having good credit demonstrates your financial fortitude. Usually, scores that are over 700 fall into this category. Good credit scores will help you get approvals for leases, loans, and mortgages with lower interest rates. Low scores can ultimately lead to disapproved applications or high-interest rates, which would directly increase your monthly payments.<\/div>\n","notChosenFeedback":"

(A) It demonstrates your financial power and helps you get approvals for leases, loans, and mortgages.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) It allows you to get more credit which helps you pay for expenses immediately.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(C) Having good credit will grant you bonuses once you hit a specific score.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(D) It doesn't matter if you have good credit or not.<\/div>\n"}],"overallFeedback":[{"from":0,"to":100}],"behaviour":{"enableRetry":true,"enableSolutionsButton":true,"enableCheckButton":true,"type":"auto","singlePoint":false,"randomAnswers":false,"showSolutionsRequiresInput":true,"confirmCheckDialog":false,"confirmRetryDialog":false,"autoCheck":false,"passPercentage":100,"showScorePoints":true},"UI":{"checkAnswerButton":"Check","submitAnswerButton":"Submit","showSolutionButton":"Show solution","tryAgainButton":"Retry","tipsLabel":"Show tip","scoreBarLabel":"You got :num out of :total points","tipAvailable":"Tip available","feedbackAvailable":"Feedback available","readFeedback":"Read feedback","wrongAnswer":"Wrong answer","correctAnswer":"Correct answer","shouldCheck":"Should have been checked","shouldNotCheck":"Should not have been checked","noInput":"Please answer before viewing the solution","a11yCheck":"Check the answers. The responses will be marked as correct, incorrect, or unanswered.","a11yShowSolution":"Show the solution. The task will be marked with its correct solution.","a11yRetry":"Retry the task. Reset all responses and start the task over again."},"confirmCheck":{"header":"Finish ?","body":"Are you sure you wish to finish ?","cancelLabel":"Cancel","confirmLabel":"Finish"},"confirmRetry":{"header":"Retry ?","body":"Are you sure you wish to retry ?","cancelLabel":"Cancel","confirmLabel":"Confirm"},"question":"

Why is having good credit important?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 5"},"subContentId":"1f1c09da-b32b-47aa-91be-ad006b53d479"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(A) Pay bills on time.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) Make payments that are larger than the minimum.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

Payment history and credit utilization are the two most important factors that affect your credit score the most. Those two factors make up more than half of what your credit score is. Paying bills late by 30 days or more will damage your score, and the later you pay, the more damage it will do. Making larger payments instead of the minimum will help pay your balance down quicker, impacting your overall credit utilization and affecting your score positively. Increasing your credit line will also impact credit utilization because the higher limit will lower your percentage.<\/div>\n","notChosenFeedback":"

How do I increase my credit score?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 6"},"subContentId":"2a81e0e0-e5af-4f73-9735-0c4047932cae"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":true,"tipsAndFeedback":{"chosenFeedback":"

Experts recommend using no more than 30% of your total credit; however, paying off your debt ultimately will increase your credit score the most. Keeping an overall low balance will help your score get to higher levels.<\/div>\n","notChosenFeedback":"

(A) 0% usage.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) 30% usage.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(C) 50% usage.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(D) 100% usage.<\/div>\n"}],"overallFeedback":[{"from":0,"to":100}],"behaviour":{"enableRetry":true,"enableSolutionsButton":true,"enableCheckButton":true,"type":"auto","singlePoint":false,"randomAnswers":false,"showSolutionsRequiresInput":true,"confirmCheckDialog":false,"confirmRetryDialog":false,"autoCheck":false,"passPercentage":100,"showScorePoints":true},"UI":{"checkAnswerButton":"Check","submitAnswerButton":"Submit","showSolutionButton":"Show solution","tryAgainButton":"Retry","tipsLabel":"Show tip","scoreBarLabel":"You got :num out of :total points","tipAvailable":"Tip available","feedbackAvailable":"Feedback available","readFeedback":"Read feedback","wrongAnswer":"Wrong answer","correctAnswer":"Correct answer","shouldCheck":"Should have been checked","shouldNotCheck":"Should not have been checked","noInput":"Please answer before viewing the solution","a11yCheck":"Check the answers. The responses will be marked as correct, incorrect, or unanswered.","a11yShowSolution":"Show the solution. The task will be marked with its correct solution.","a11yRetry":"Retry the task. Reset all responses and start the task over again."},"confirmCheck":{"header":"Finish ?","body":"Are you sure you wish to finish ?","cancelLabel":"Cancel","confirmLabel":"Finish"},"confirmRetry":{"header":"Retry ?","body":"Are you sure you wish to retry ?","cancelLabel":"Cancel","confirmLabel":"Confirm"},"question":"

What level of credit balance should I keep to improve my score?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 7"},"subContentId":"7b858276-519d-4f6f-83f3-2ca844c7d96c"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(A) An overdue or late payment.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) Closing your oldest credit card account.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

Late payments are one of the top two factors that can dramatically hurt your credit score. The longer it takes to make the payment, the more damage your credit score will incur. Applications for new credit will also negatively affect your score since a lender can see how much risk you are as a borrower. Closing an account will also hurt your score since the longer your account is open, the more it will positively affect your score.<\/div>\n","notChosenFeedback":"

What can hurt my credit score?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 8"},"subContentId":"cd02d18d-49f4-4619-aa00-c6ea29fbc6fe"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(A) Your overall knowledge of credit.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) The amount of debt you owe.<\/div>\n"},{"correct":true,"tipsAndFeedback":{"chosenFeedback":"

Credit scores allow lenders to see if a borrower is at risk of not repaying a loan. The higher the score, the lower the risk you represent to the lender, making it more likely that the lender will approve a loan and offer a lower interest rate. The lower a score is, the more likely your loan will be disapproved or approved at a higher interest rate.<\/div>\n","notChosenFeedback":"

(C) Your risk of not repaying a loan.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(D) You can qualify for more credit cards.<\/div>\n"}],"overallFeedback":[{"from":0,"to":100}],"behaviour":{"enableRetry":true,"enableSolutionsButton":true,"enableCheckButton":true,"type":"auto","singlePoint":false,"randomAnswers":false,"showSolutionsRequiresInput":true,"confirmCheckDialog":false,"confirmRetryDialog":false,"autoCheck":false,"passPercentage":100,"showScorePoints":true},"UI":{"checkAnswerButton":"Check","submitAnswerButton":"Submit","showSolutionButton":"Show solution","tryAgainButton":"Retry","tipsLabel":"Show tip","scoreBarLabel":"You got :num out of :total points","tipAvailable":"Tip available","feedbackAvailable":"Feedback available","readFeedback":"Read feedback","wrongAnswer":"Wrong answer","correctAnswer":"Correct answer","shouldCheck":"Should have been checked","shouldNotCheck":"Should not have been checked","noInput":"Please answer before viewing the solution","a11yCheck":"Check the answers. The responses will be marked as correct, incorrect, or unanswered.","a11yShowSolution":"Show the solution. The task will be marked with its correct solution.","a11yRetry":"Retry the task. Reset all responses and start the task over again."},"confirmCheck":{"header":"Finish ?","body":"Are you sure you wish to finish ?","cancelLabel":"Cancel","confirmLabel":"Finish"},"confirmRetry":{"header":"Retry ?","body":"Are you sure you wish to retry ?","cancelLabel":"Cancel","confirmLabel":"Confirm"},"question":"

What do credit scores indicate?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 9"},"subContentId":"97b3dd96-729b-4590-b45b-004fa2f1d0ac"},{"params":{"media":{"disableImageZooming":false},"answers":[{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(A) The government.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

(B) The IRS.<\/div>\n"},{"correct":false,"tipsAndFeedback":{"tip":"","chosenFeedback":"","notChosenFeedback":""},"text":"

Experian, Equifax, and TransUnion all provide the information used to calculate credit scores in the form of a credit report. None of these credit bureaus calculate the score itself; the calculation is more complicated and is taken care of by companies like FICO and VantageScore.<\/div>\n","notChosenFeedback":"

(D) Experian, Equifax, and TransUnion.<\/div>\n"}],"overallFeedback":[{"from":0,"to":100}],"behaviour":{"enableRetry":true,"enableSolutionsButton":true,"enableCheckButton":true,"type":"auto","singlePoint":false,"randomAnswers":false,"showSolutionsRequiresInput":true,"confirmCheckDialog":false,"confirmRetryDialog":false,"autoCheck":false,"passPercentage":100,"showScorePoints":true},"UI":{"checkAnswerButton":"Check","submitAnswerButton":"Submit","showSolutionButton":"Show solution","tryAgainButton":"Retry","tipsLabel":"Show tip","scoreBarLabel":"You got :num out of :total points","tipAvailable":"Tip available","feedbackAvailable":"Feedback available","readFeedback":"Read feedback","wrongAnswer":"Wrong answer","correctAnswer":"Correct answer","shouldCheck":"Should have been checked","shouldNotCheck":"Should not have been checked","noInput":"Please answer before viewing the solution","a11yCheck":"Check the answers. The responses will be marked as correct, incorrect, or unanswered.","a11yShowSolution":"Show the solution. The task will be marked with its correct solution.","a11yRetry":"Retry the task. Reset all responses and start the task over again."},"confirmCheck":{"header":"Finish ?","body":"Are you sure you wish to finish ?","cancelLabel":"Cancel","confirmLabel":"Finish"},"confirmRetry":{"header":"Retry ?","body":"Are you sure you wish to retry ?","cancelLabel":"Cancel","confirmLabel":"Confirm"},"question":"

Who collects the information that your credit score is based on?<\/p>\n"},"library":"H5P.MultiChoice 1.16","metadata":{"contentType":"Multiple Choice","license":"U","title":"Question 10"},"subContentId":"825186bb-7581-47b5-9a14-49476975fbbf"}],"disableBackwardsNavigation":false,"randomQuestions":false,"endGame":{"showResultPage":true,"showSolutionButton":true,"showRetryButton":true,"noResultMessage":"Finished","message":"Your result:","scoreBarLabel":"You got @finals out of @totals points","overallFeedback":[{"from":0,"to":100}],"solutionButtonText":"Show solution","retryButtonText":"Retry","finishButtonText":"Finish","submitButtonText":"Submit","showAnimations":false,"skippable":false,"skipButtonText":"Skip video"},"override":{"checkButton":true},"texts":{"prevButton":"Previous question","nextButton":"Next question","finishButton":"Finish","submitButton":"Submit","textualProgress":"Question: @current of @total questions","jumpToQuestion":"Question %d of %total","questionLabel":"Question","readSpeakerProgress":"Question @current of @total","unansweredText":"Unanswered","answeredText":"Answered","currentQuestionText":"Current question","navigationLabel":"Questions"}}