General Education Development (GED) Practice Exam

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Prepare for the GED Test with our comprehensive quiz. Includes multiple choice questions and detailed explanations to boost your confidence. Ace your GED exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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A consumer's credit score may impact all but which of the following transactions?

Buying a car
Buying a home
Getting a personal loan
Opening a bank account

The correct answer is: Opening a bank account

A consumer's credit score is a critical factor when it comes to lending decisions and financial transactions that involve borrowing money, such as buying a car, buying a home, or obtaining a personal loan. Lenders assess credit scores to determine the risk of lending to an individual, which ultimately influences their approval process, the interest rates offered, and the terms of the loan. In contrast, opening a bank account typically does not directly depend on a person’s credit score. While some banks may conduct a credit check as part of their customer verification process or to assess the risk of overdrafts, this is not a universal requirement. Most commonly, banks will evaluate identity, past banking history, or whether a person has previous account overdrafts, which makes this transaction less influenced by a credit score compared to the other options listed.