Banking · Credit Score & Analysis
A bank employee observes a customer's credit score report which shows a sudden increase in the number of hard inquiries and newly opened accounts. Which risk indicator does this trend primarily signal?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The customer is consolidation-focused and is preparing to close all existing loans.
- 2The customer has an excellent repayment record and is safely maximizing their credit limit.
- 3The customer is potentially credit-hungry, facing a sudden cash crunch, or over-relying on debt.✓
- 4The customer is actively managing their credit score and improving their credit mix.
Correct answer
The customer is potentially credit-hungry, facing a sudden cash crunch, or over-relying on debt.
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