Financial Literacy Unit Test

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Question
If your credit score is 756, and your friend’s credit score is 642, who is more likely to have an easier time getting a loan?(1 point)
Responses

You, because your credit score is better.
You, because your credit score is better.

This can’t be determined from this information.
This can’t be determined from this information.

There would be no difference in your and your friend’s ability to get a loan.
There would be no difference in your and your friend’s ability to get a loan.

Your friend, because their credit score is better.
Your friend, because their credit score is better. Your friend, because their credit score is better.
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1 answer

Based on the information provided about credit scores, the correct response is:

You, because your credit score is better.

A credit score of 756 is considered good to excellent, while a score of 642 is generally viewed as fair. Lenders are more likely to offer loans with better terms to individuals with higher credit scores.