When Creating Credit Scores, Credit Bureaus Rely on a Model

question 94

True/False

When creating credit scores, credit bureaus rely on a model created by the Fair Isaac Corporation.

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Definitions:

Transit

The movement of people or goods from one location to another, typically refers to public transportation systems.

Equilibrium Price

The market price at which the quantity of an item supplied is equal to the quantity demanded.

Fine Imposed

A monetary penalty levied by an authority on individuals or entities as punishment for violations of legal rules or regulations.

Interest Rate

The cost of borrowing money or the compensation for the service and risk of lending money, usually expressed as a percentage.