Title: QUIZ: How a FICO Credit Score Is Determined -- Continuing Feducation Video Series
Course: Kelly's Copy-Export Course > Section: How a FICO Credit Score Is Determined -- Continuing Feducation Video Series

Q: A FICO credit score is a three-digit number based on a person’s credit report, and it is used to determine loan eligibility and the interest rates that people may pay.
- True
- False
A: True

Q: Credit scoring companies use data, such as sex, age, race and religion, to determine the likelihood of repayment.
- True
- False
A: False

Q: Which category accounts for about 35% of the credit score calculation and takes into account bills that are paid late, how late they were paid, how recent the delinquency was, and the total amount owed?
- Length of Credit History
- Payment History
- Amounts Owed Relative to Limits
- Types of Credit Used 
A: Payment History

Q: Which category accounts for about 30% of the credit score calculation and considers your debt-to-credit ratio?
- Length of Credit History
- Frequency of New Credit 
- Amounts Owed Relative to Limits
- Types of Credit Used
A: Amounts Owed Relative to Limits

Q: Which category accounts for about 15% of the credit score calculation and takes into consideration how long you’ve had your credit accounts?
- Length of Credit History
- Payment History
- Amounts Owed Relative to Limits
- Types of Credit Used
A: Length of Credit History

Q: Which category may be negatively affected if a customer has recently taken out a new mortgage and applied for a few new credit cards?
- Length of Credit History
- Frequency of New Credit
- Amounts Owed Relative to Limits
- Types of Credit Used
A: Frequency of New Credit

Q: If a consumer has a mortgage loan, a student loan, and a car loan in addition to a credit card account, he may score higher in which credit score category?
- Length of Credit History
- Payment History
- Amounts Owed Relative to Limits
- Types of Credit Used 
A: Types of Credit Used 

Q: Which of the following actions will help you maintain a good credit score?
- Pay all bills on time.
- Open new credit card accounts often.
- Cancel your oldest credit cards.
- Keep your debt-to-credit ratio at about 75%.
A: Pay all bills on time.

Q: Henrik and Callie are both young adults employed at a local company. Callie pays her bills on time, has had the same credit card since starting college, and uses about 20% of her credit limit. Henrik has made a few late payments, has recently opened a few new credit cards, and uses about 65% of his credit limit. Given this information, who is more likely to have a higher credit score?
- Henrik will have the higher credit score.
- Callie will have the higher credit score.
- Their scores are likely about the same.
- Not enough information has been given. 
A: Callie will have the higher credit score.

Q: By law, how often must each of the three credit bureaus provide you with a free credit report?
- Once a month 
- Once a year 
- Once every 5 years
- Once every 10 years
A: Once a year