Which of the Following Statements About Credit Scoring Systems Is

question 56

Multiple Choice

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.

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Definitions:

Exploitation

The act of making use of resources or advantages for one's own benefit, often without regard for ethics or fairness.

Skimming Strategy

A pricing strategy in which a company charges the highest initial price that customers will pay and then gradually lowers the price to attract more price-sensitive customers.

Product Life Cycle

A concept that describes the stages a product goes through from development to withdrawal from the market, including introduction, growth, maturity, and decline.

Innovative Product

A product that introduces new features, functionality, or improvements that distinctly set it apart from previous versions or competitors.