Foundations in Personal Finance 4:3 & 4:4

Thirty-five percent of how a FICO score is calculated is based on:

• How much money you have in the bank

• Your debt history

• The type of debt you carry

• How much debt you have minus what you have in the bank

It's possible to not have a FICO score.

• True

• False

The FICO score is an "I Love Debt" score.

• True

• False

You need to build up your credit to survive.

• True

• False

About 80% of identities are stolen by people you know.

• True

• False

When a theft occurs, you are liable for all the money that an identify thief used

• True

• False

It takes the average consumer about _____________ hours to clean up the mess when their identity is stolen.

• 600

• 50

• 5

• 1200

The Federal Fair Credit Reporting Act requires the credit bureau to remove any and all inaccuracies within ___________ of being notified.

• 30 days

• 2 months

• 3 weeks

• 1 year