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Exam 6: Credit Bureau Reports and Identity Theft

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Question 51

Multiple Choice

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According to FICO's 2008 scoring model,people with the best credit have a utilization rate of no more than what percent?

A) 5%
B) 7%
C) 18%
D) 24%

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Question 52

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Identity theft is relatively easy to fix.

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Question 53

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Who do credit card companies really like to entice with "free" items like t-shirts?

What is contained in a credit report?

Mike,Therese,Tristan,and Elena want to improve their FICO credit score.Mike uses 10% of his credit limit,Therese uses 30% of her limit,Tristan uses 50% of his limit,and Elena uses 75% of her limit.Who is improving their score the most?

Late payments made two years ago will have less influence on your credit score than a late payment made two months ago.

What government website will help you if your identity is stolen?

What percent of the FICO score comes from your length of credit history?

The three national credit reporting agencies in the United States are TransUnion,Equifax,and Experian.

What credit score number helps to lower the interest rate and speed up your credit approval in purchasing a home?

All three credit reporting agencies have different formats for both their paper and online reports but provide similar information.

Which of the following are ways to improve your FICO credit score?

What does FICO stand for?

Typically,you enter into use of debt during the independent life stage.

How many days does the credit bureau have to investigate an error found in your credit report?

Which indicator drives a FICO score the most?