Credit history public records include bankruptcies, judgements, arrests, tax liens, and criminal history.

QUESTION 1Credit history public records include bankruptcies, judgements, arrests, tax liens, and criminal history. True False3.33 points QUESTION 2How do identity thieves keep delinquent credit notices off your radar?A.Change the bank usedB.Change the name usedC.Change the billing address usedD.Change the phone number used3.38 points QUESTION 3Which of the following is not one of the four components of credit report?A.Credit HistoryB.Employment historyC.InquiriesD.Public records3.33 points QUESTION 4What are lenders looking for when they issue a loanA.The borrower’s ability to pay back the loanB.The borrower’s relationship with the bankC.The borrower’s relationship with his employer3.33 points QUESTION 5Individuals with extremely good credit history benefit from lending relationships. True False3.33 points QUESTION 6Your credit score is not adversely affected if you check it yourself. True False3.33 points QUESTION 7Consumers know the exact formula used to calculate credit scores. True False3.33 points QUESTION 8A credit rule of thumb is that products should outlive their credit card payments. True False3.33 points QUESTION 9Credit rationing means banks choose not to lend to borrowers even though the bank has funds to lend True False3.33 points QUESTION 10Increase in FICO (credit) score lowers your borrowing rate. True False3.33 points QUESTION 11What is a reporting agency that assembles information on borrowers to help lenders evaluate credit worthiness? (You are entitled to see your credit report and dispute or add to the information you feel is erroneous).A.BankB.Credit issuing agencyC.Mini credit reportD.Credit bureau3.33 points QUESTION 12Credit cards have different liabilities than debit cards. You need to know this in case your cards are ever lost or stolen. True False3.33 points QUESTION 13A person with credit score of 620 or less will have no problems borrowing from lenders/bangs True False3.33 points QUESTION 14Roughly 20 soft inquiries add up to one hard inquiry on your credit report. True False3.33 points QUESTION 15There is no difference between soft inquiry and hard inquiry True False


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