Final answer:
The statement is false. FICO scores range from 300 to 850, with scores above 800 being possible and indicative of exceptional credit, while scores below 350 are also possible but rare.
Step-by-step explanation:
The statement that no one has a FICO score over 800 or below 350 is false. The FICO score range is generally accepted to be between 300 and 850. Having a score above 800 is considered to be an indication of exceptional credit management, and it is certainly possible, although less common. Conversely, it is also possible for individuals to have a score below 350, although this would be exceedingly rare and would indicate extremely poor credit management and possibly a lack of credit history altogether. It's worth noting that the scores close to 850 and close to 300 are the extreme ends of the spectrum. Most people's scores will fall between these two extremes.