Which of the following is not true about a FICO score? It is based on an algorithm. It is necessary in order to get a mortgage. It is supposedly a one-number representation of all of your interaction with debt. It is based on every credit account that has activity on it in the last seven years
The last statement is not true such as "It is based on every credit account that has activity on it in the last seven years ". It is clearly stated in the credit website that for people who have not been using credit for a longer period of time will be factored differently for those people who have credits in a longer history.