1

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

   True

   False

3.33 points

QUESTION 2

1. How do identity thieves keep delinquent credit notices off your radar?

   A.	Change the bank used
   B.	Change the name used
   C.	Change the billing address used
   D.	Change the phone number used

3.38 points

QUESTION 3

1. Which of the following is not one ofthe four components of credit report?

   A.	Credit History
   B.	Employmenthistory
   C.	Inquiries
   D.	Public records

3.33 points

QUESTION 4

1. What are lenders looking for when they issue a loan

   A.	The borrower's abilityto pay back the loan
   B.	The borrower's relationship with the bank
   C.	The borrower's relationship with his employer

3.33 points

QUESTION 5

1. Individuals with extremely good credit history benefit from lending relationships.

   True

   False

3.33 points

QUESTION 6

1. Your credit score is not adversely affected if you check it yourself.

   True

   False

3.33 points

QUESTION 7

1. Consumers know the exact formula used to calculate credit scores.

   True

   False

3.33 points

QUESTION 8

1. A credit rule of thumb is that products should outlive their credit card payments.

   True

   False

3.33 points

QUESTION 9

1. Credit rationing means banks choose not to lend to borrowers even though the bank has funds to lend

   True

   False

3.33 points

QUESTION 10

1. Increase in FICO (credit)score lowers yourborrowingrate.

   True

   False

3.33 points

QUESTION 11

1. What 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.	Bank
   B.	Credit issuing agency
   C.	Mini credit report
   D.	Credit bureau

3.33 points

QUESTION 12

1. Credit cards have different liabilities than debit cards. You need to know this in case your cards are ever lost or stolen.

   True

   False

3.33 points

QUESTION 13

1. A person with credit score of 620or less will have no problemsborrowingfrom lenders/bangs

   True

   False

3.33 points

QUESTION 14

1. Roughly 20 soft inquiries add up to one hard inquiry on your credit report.

   True

   False

3.33 points

QUESTION 15

1. There is no difference between soft inquiry and hard inquiry

   True

   False