Which of the following statements best describes the relationship between credit scores and credit riskiness of borrowers?
5.5 Credit Scores

Quiz
•
Mathematics
•
11th Grade
•
Hard
Emmalee Handshy
Used 4+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Higher credit scores are associated with higher credit risk
Higher credit scores are associated with lower credit risk
Lower credit scores are associated with lower credit risk
Credit scores and credit risk are unrelated
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT used to estimate a credit score?
Marital status
Age
New credit inquiries
Both age and marital are correct
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When reviewing personal information, which of following is included in credit-scoring models?
Gender of individual
Race of individual
Public record information
All of the answer choices are correct
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following credit inputs is the least important when a FICO score is developed?
Length of credit history
Amount of credit
Payment history
Types of credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Raul has had a credit card since college. Overall, he has managed his credit history well, although he has occasionally made a late payment on his credit card. Given this information, which of the following FICO scores is Raul likely to recieve?
350
825
640
790
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Individuals with low credit scores are more likely to be:
Charged higher interest rates on loans
Offered new low-cost credit cards
Charged higher insurance premiums
Charged higher interest rates on loans and pay higher insurance premiums
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following statements regarding credit inquires are true, EXCEPT:
Hard credit inquiries generally have a negative impact on credit scores
Soft credit inquiries generally do not affect credit scores
When an individual requests his or her own credit report, it is considered a hard inquiry
Hard credit inquiries generally have a negative impact on credit scores, but soft credit inquiries generally have no effect
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