Ontario Mortgage Agent Practice Exam

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What items are involved in calculating a credit score?

  1. Amounts Owed

  2. Length of Credit History

  3. New Credit and Inquiries

  4. Payment History

The correct answer is: Payment History

A credit score is based on a variety of factors, but the most important ones are the ones related to your credit history. These factors include payment history, amounts owed, length of credit history, and new credit and inquiries. However, out of these options, only payment history is directly involved in calculating your credit score. While the other factors are also important in evaluating your creditworthiness, they do not have a direct impact on your credit score.

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