Credit Score Assessment

How do lenders determine the credit risk of a person?

• FBI background investigation.

• Checking their education level.

• Checking their high school grades.

• Checking their credit score and rating.

What is a credit score commonly known as?

• FFICA

• FICO

• FITO

• None of the Above.

For your credit score, you earn points for

• education.

• being respectful to other.

• making good credit decisions.

• making bad credit decisions.

A good credit score allows a person to more easily

• borrow money.

• borrow money more cheaply

• borrow a larger amount of money.

• All of the above.

A credit score may be used

• to rent a place.

• for insurance.

• by an employer

• All of the Above.

Of the five areas used to measure a person’s credit, what two areas are worth the most points?

• New credit and types of credit.

• Length of credit history and new credit.

• Payment history and how much you owe.

• New credit and payment history.

Which one below is considered the best credit rating?

• Poor

• Fair

• Good

• Excellent

The credit bureaus are organizations that

• Maintain records on everyone’s school grades.

• Investigate illegal credit activity.

• Maintain records on everyone’s credit activity and habits.

• All of the above.

Select all of the following that are credit bureaus. (Hint: There is more than one answer)

• Equifax

• Experian

• Transunion

• Credit National

Creating many new credit accounts will increase your credit score.

• True

• False