A "FICO score" is:
Answer: (b)
The "FICO score" is also known as an individual's credit score; FICO is an acronym for Fair Isaac Corporation, the company that developed the method of calculating the score. The FICO scoring system is designed to predict a person's probability of delinquency on loan payments within the 24 months following the issuance of a score credit scoring system in the United States, and it is used to analyze a large percentage of mortgage and consumer loan applications. The exact method of calculating the FICO score is a proprietary secret, but it is based on a number of factors in a person's credit history. The major credit reporting agencies use slightly different methods to calculate their credit scores.
