HUD COUNSELOR EXAM 2023-2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS
personal information - (answer) Which section of a credit repirt will contain employer information?
account information - (answer) Which section of the credit report will contain information about a
student loan?
Public records - (answer) Which section of a credit report will contain court information such as
bankruptcy?
Inquiries - (answer) Which section of the credit report will show recent attempts to open a credit card?
Consumer rights - (answer) Which section of a credit report will contain information about how to
correct inaccuracies?
15% of credit score - (answer) Credit history length
10% of credit score - (answer) Based on types of credit used
10% of credit score based on - (answer) New credit
amounts owed - (answer) Ratio or total credit extended to the amount of credit owed
New Credit - (answer) Number of recent credit inquiries, as well as new credit accounts
Incorrect information on credit report - (answer) Review credit report and dispute inaccuracies. Keep
records of dispute information.
Delinquencies/collections/judgments - (answer) Get current and pay on time going forward. Set up
payment reminders. Adjust budget to factor in all monthly payments.
Credit card maxed out/too much debt - (answer) Pay down debt and keep balances low moving
forward. Pay more than minimum. Know what the balance is and check statements.
,HUD COUNSELOR EXAM 2023-2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS
No credit/poor credit/limited credir - (answer) Open a credit card account or other line of credit
secured card or personal loan.
Roger has maxed out his credit card - (answer) Make more than minimum payment to pay down the
balances.
Molly is recent college graduate trying to apply for her first credit card but has been denied: - (answer)
Apply for secured credit card to establish history.
Chris see that a bankruptcy on his report actually belongs to his cousin, who has the same name: -
(answer) Notify credit reporting agencies.
Fair Credit Reporting Act (FCRA): - (answer) 1) You have right to know what is in your file
2) You have the right to dispute incomplete or inaccurate information
3) Access to your file is limited
4) You may seek damages from violators
Fair and Accurate Credit Transactions Act (FACTA): - (answer) 1) You have the right to a free credit
report
2) You have the right to place a fraud alert on your credit file
3) Credit card numbers must be truncated so the full number is not visible on receipts
Fair Credit Billing Act (FCBA): - (answer) 1) You can dispute billing errors associated with your credit
card account - creditor 30 days to acknowledge and 90 days to research and make determination
2)
personal information - (answer) Which section of a credit repirt will contain employer information?
account information - (answer) Which section of the credit report will contain information about a
student loan?
,HUD COUNSELOR EXAM 2023-2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS
Public records - (answer) Which section of a credit report will contain court information such as
bankruptcy?
Inquiries - (answer) Which section of the credit report will show recent attempts to open a credit card?
Consumer rights - (answer) Which section of a credit report will contain information about how to
correct inaccuracies?
15% of credit score - (answer) Credit history length
10% of credit score - (answer) Based on types of credit used
10% of credit score based on - (answer) New credit
amounts owed - (answer) Ratio or total credit extended to the amount of credit owed
New credir - (answer) Number of recent credit inquiries, as well as new credit accounts
Incorrect information on credit report - (answer) Review credit report and dispute inaccuracies. Keep
records of dispute information.
Delinquencies/collections/judgments - (answer) Get current and pay on time going forward. Set up
payment reminders. Adjust budget to factor in all monthly payments.
Credit card maxed out/too much debt - (answer) Pay down debt and keep balances low moving
forward. Pay more than minimum. Know what the balance is and check statements.
No credit/poor credit/limited credir - (answer) Open a credit card account or other line of credit
secured card or personal loan.
, HUD COUNSELOR EXAM 2023-2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS
Roger has maxed out his credit card - (answer) Make more than minimum payment to pay down the
balances.
Molly is recent college graduate trying to apply for her first credit card but has been denied: - (answer)
Apply for secured credit card to establish history.
Chris see that a bankruptcy on his report actually belongs to his cousin, who has the same name: -
(answer) Notify credit reporting agencies.
Fair Credit Reporting Act (FCRA): - (answer) 1) You have right to know what is in your file
2) You have the right to dispute incomplete or inaccurate information
3) Access to your file is limited
4) You may seek damages from violators
Fair and Accurate Credit Transactions Act (FACTA): - (answer) 1) You have the right to a free credit
report
2) You have the right to place a fraud alert on your credit file
3) Credit card numbers must be truncated so the full number is not visible on receipts
Fair Credit Billing Act (FCBA): - (answer) 1) You can dispute billing errors associated with your credit
card account - creditor 30 days to acknowledge and 90 days to research and make determination
2) Creditors must send billing statements to consumers at least 14 days before the payment is due
Matt wants to limit his employers access to his credit report: - (answer) (FCRA) Fair Credit Reporting
Act
Peter wants to dispute inaccurate information in his credit report: - (answer) (FCRA) Fair Credit
Reporting Act
Amy sees a charge she did not make on her credit card statement and wants to dispute it: - (answer)
(FCBA) Fair Credit Billing Act
personal information - (answer) Which section of a credit repirt will contain employer information?
account information - (answer) Which section of the credit report will contain information about a
student loan?
Public records - (answer) Which section of a credit report will contain court information such as
bankruptcy?
Inquiries - (answer) Which section of the credit report will show recent attempts to open a credit card?
Consumer rights - (answer) Which section of a credit report will contain information about how to
correct inaccuracies?
15% of credit score - (answer) Credit history length
10% of credit score - (answer) Based on types of credit used
10% of credit score based on - (answer) New credit
amounts owed - (answer) Ratio or total credit extended to the amount of credit owed
New Credit - (answer) Number of recent credit inquiries, as well as new credit accounts
Incorrect information on credit report - (answer) Review credit report and dispute inaccuracies. Keep
records of dispute information.
Delinquencies/collections/judgments - (answer) Get current and pay on time going forward. Set up
payment reminders. Adjust budget to factor in all monthly payments.
Credit card maxed out/too much debt - (answer) Pay down debt and keep balances low moving
forward. Pay more than minimum. Know what the balance is and check statements.
,HUD COUNSELOR EXAM 2023-2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS
No credit/poor credit/limited credir - (answer) Open a credit card account or other line of credit
secured card or personal loan.
Roger has maxed out his credit card - (answer) Make more than minimum payment to pay down the
balances.
Molly is recent college graduate trying to apply for her first credit card but has been denied: - (answer)
Apply for secured credit card to establish history.
Chris see that a bankruptcy on his report actually belongs to his cousin, who has the same name: -
(answer) Notify credit reporting agencies.
Fair Credit Reporting Act (FCRA): - (answer) 1) You have right to know what is in your file
2) You have the right to dispute incomplete or inaccurate information
3) Access to your file is limited
4) You may seek damages from violators
Fair and Accurate Credit Transactions Act (FACTA): - (answer) 1) You have the right to a free credit
report
2) You have the right to place a fraud alert on your credit file
3) Credit card numbers must be truncated so the full number is not visible on receipts
Fair Credit Billing Act (FCBA): - (answer) 1) You can dispute billing errors associated with your credit
card account - creditor 30 days to acknowledge and 90 days to research and make determination
2)
personal information - (answer) Which section of a credit repirt will contain employer information?
account information - (answer) Which section of the credit report will contain information about a
student loan?
,HUD COUNSELOR EXAM 2023-2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS
Public records - (answer) Which section of a credit report will contain court information such as
bankruptcy?
Inquiries - (answer) Which section of the credit report will show recent attempts to open a credit card?
Consumer rights - (answer) Which section of a credit report will contain information about how to
correct inaccuracies?
15% of credit score - (answer) Credit history length
10% of credit score - (answer) Based on types of credit used
10% of credit score based on - (answer) New credit
amounts owed - (answer) Ratio or total credit extended to the amount of credit owed
New credir - (answer) Number of recent credit inquiries, as well as new credit accounts
Incorrect information on credit report - (answer) Review credit report and dispute inaccuracies. Keep
records of dispute information.
Delinquencies/collections/judgments - (answer) Get current and pay on time going forward. Set up
payment reminders. Adjust budget to factor in all monthly payments.
Credit card maxed out/too much debt - (answer) Pay down debt and keep balances low moving
forward. Pay more than minimum. Know what the balance is and check statements.
No credit/poor credit/limited credir - (answer) Open a credit card account or other line of credit
secured card or personal loan.
, HUD COUNSELOR EXAM 2023-2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS
Roger has maxed out his credit card - (answer) Make more than minimum payment to pay down the
balances.
Molly is recent college graduate trying to apply for her first credit card but has been denied: - (answer)
Apply for secured credit card to establish history.
Chris see that a bankruptcy on his report actually belongs to his cousin, who has the same name: -
(answer) Notify credit reporting agencies.
Fair Credit Reporting Act (FCRA): - (answer) 1) You have right to know what is in your file
2) You have the right to dispute incomplete or inaccurate information
3) Access to your file is limited
4) You may seek damages from violators
Fair and Accurate Credit Transactions Act (FACTA): - (answer) 1) You have the right to a free credit
report
2) You have the right to place a fraud alert on your credit file
3) Credit card numbers must be truncated so the full number is not visible on receipts
Fair Credit Billing Act (FCBA): - (answer) 1) You can dispute billing errors associated with your credit
card account - creditor 30 days to acknowledge and 90 days to research and make determination
2) Creditors must send billing statements to consumers at least 14 days before the payment is due
Matt wants to limit his employers access to his credit report: - (answer) (FCRA) Fair Credit Reporting
Act
Peter wants to dispute inaccurate information in his credit report: - (answer) (FCRA) Fair Credit
Reporting Act
Amy sees a charge she did not make on her credit card statement and wants to dispute it: - (answer)
(FCBA) Fair Credit Billing Act
