Which of the following statements about credit scoring systems is true?
A)Lower credit scores are better than higher credit scores.
B)The credit scoring system is based on extensive statistical studies.
C)Credit unions calculate and sell credit scores to lenders.
D)FICO scores consider age, gender, marital status, and so on.
E)Strength in key personal traits shows that you are a good risk for lenders and reduce your credit score.

Question

Quizplus · Accepted Answer

Credit scoring systems are indeed based on extensive statistical studies that analyze the behavior and characteristics of borrowers to predict their likelihood of repaying debt.

Which of the Following Statements About Credit Scoring Systems Is