21 May HOW DO IDENTITY THIEVES KEEP DELINQUENT CREDIT NOTICES OFF YOUR RADAR?
Credit history public records include bankruptcies, judgements, arrests, tax liens, and criminal history.
True
False
3.33 points
QUESTION 2
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
Which of the following is not one of the four components of credit report?
A.
Credit History
B.
Employment history
C.
Inquiries
D.
Public records
3.33 points
QUESTION 4
What are lenders looking for when they issue a loan
A.
The borrower’s ability to 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
Individuals with extremely good credit history benefit from lending relationships.
True
False
3.33 points
QUESTION 6
Your credit score is not adversely affected if you check it yourself.
True
False
3.33 points
QUESTION 7
Consumers know the exact formula used to calculate credit scores.
True
False
3.33 points
QUESTION 8
A credit rule of thumb is that products should outlive their credit card payments.
True
False
3.33 points
QUESTION 9
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
Increase in FICO (credit) score lowers your borrowing rate.
True
False
3.33 points
QUESTION 11
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
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
A person with credit score of 620 or less will have no problems borrowing from lenders/bangs
True
False
3.33 points
QUESTION 14
Roughly 20 soft inquiries add up to one hard inquiry on your credit report.
True
False
3.33 points
QUESTION 15
There is no difference between soft inquiry and hard inquiry
True
False
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