Credit Scores

When Katy applies for a car loan, the bank uses a:

• A method of tracking Katy's spending habits

• A measure of Katy's grades and GPA

• a number that gives Katy rewards if stayed under

• report of Katy's credit history

When Kingston applies for a personal loan, the loan officer will assess his credit worthiness by checking:

• Credit Report and Credit History

• GPA and Transcripts

• Parents Income and Net Worth

• All answers are correct

During a finance class, Carlo, Ian, and Caleb are tasked with researching the 3 major Credit Reporting Agencies in the U.S. for a project. Which agencies are they looking into?

• Equifax, Expedia and Trans America

• Equilibrium, Experience, and Trans Continental

• Equifax, Experian, and Trans Union

• Equality, Expatriot, and Transformation

Emma and Dutch are discussing how Credit Bureaus operate. Emma mentions that Credit Bureaus generate revenue by selling information to banks and other financial institutions - is this true or false?:

• True

• False

Laney believes that FICO is the largest Credit Bureau in the U.S.

• True

• False

During a finance class, Mallory asked, 'What does FICO stand for?'

• Freeway Incident Car Overturned

• Fair Intrinsic Corporation

• Fair Isaac Corporation

• Fred Isaac Company

Imagine Sofia is reviewing her FICO Credit Score report. The report is likely to include:

• GPA, marital status, total assets,

• income history and job history

• Amt owed, New Credit, Length of Credit History, Credit Mix, Payment History

• all of the above

Bentley is reviewing her finances to prepare for buying her first home and discovers that an "Exceptional" Credit Score falls within the range of:

• 300-579

• 800-850

• 580-669

• 740-799

Alexander is applying for a mortgage and discovers that FICO Scores range from:

• 0-1000

• 0-850

• 100-500

• 300-850

Reed is diligently reviewing his credit report to identify ways to improve his FICO score. He learns that the most significant factor, accounting for 35% of the score, is:

• Credit Mix

• Income history

• New Credit

• Payment History