HUD COUNSELOR EXAM 2024-2025 ACTUAL
EXAM 200 QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES (VERIFIED
ANSWERS) |ALREADY GRADED A+
Terms in this set (278)
Which section of a credit personal information
repirt will contain employer
information?
Which section of the credit account information
report will contain
information about a student
loan?
Which section of a credit Public records
report will contain court
information such as
bankruptcy?
Which section of the credit Inquiries
report will show recent
attempts to open a credit
card?
Which section of a credit Consumer rights
report will contain
information about how to
correct inaccuracies?
Credit history length 15% of credit score
Based on types of credit 10% of credit score
used
New credit 10% of credit score based on
,Ratio or total credit amounts owed
extended to the amount of
credit owed
Number of recent credit New Credit
inquiries, as well as new
credit accounts
Review credit report and Incorrect information on credit report
dispute inaccuracies. Keep
records of dispute
information.
Get current and pay on time Delinquencies/collections/judgments
going forward. Set up
payment reminders. Adjust
budget to factor in all
monthly payments.
Pay down debt and keep Credit card maxed out/too much debt
balances low moving
forward. Pay more than
minimum. Know what the
balance is and check
statements.
Open a credit card account No credit/poor credit/limited credir
or other line of credit
secured card or personal
loan.
Make more than minimum Roger has maxed out his credit card
payment to pay down the
balances.
Apply for secured credit Molly is recent college graduate trying to apply for her
card to establish history. first credit card but has been denied:
Notify credit reporting Chris see that a bankruptcy on his report actually
agencies. belongs to his cousin, who has the same name:
, 1) You have right to know Fair Credit Reporting Act (FCRA):
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
1) You have the right to a Fair and Accurate Credit Transactions Act (FACTA):
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
1) You can dispute billing Fair Credit Billing Act (FCBA):
errors associated with your
credit card account -
creditor 30 days to
acknowledge and 90 days
to research and make
determination
2)
Which section of a credit personal information
repirt will contain employer
information?
Which section of the credit account information
report will contain
information about a student
loan?
EXAM 200 QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES (VERIFIED
ANSWERS) |ALREADY GRADED A+
Terms in this set (278)
Which section of a credit personal information
repirt will contain employer
information?
Which section of the credit account information
report will contain
information about a student
loan?
Which section of a credit Public records
report will contain court
information such as
bankruptcy?
Which section of the credit Inquiries
report will show recent
attempts to open a credit
card?
Which section of a credit Consumer rights
report will contain
information about how to
correct inaccuracies?
Credit history length 15% of credit score
Based on types of credit 10% of credit score
used
New credit 10% of credit score based on
,Ratio or total credit amounts owed
extended to the amount of
credit owed
Number of recent credit New Credit
inquiries, as well as new
credit accounts
Review credit report and Incorrect information on credit report
dispute inaccuracies. Keep
records of dispute
information.
Get current and pay on time Delinquencies/collections/judgments
going forward. Set up
payment reminders. Adjust
budget to factor in all
monthly payments.
Pay down debt and keep Credit card maxed out/too much debt
balances low moving
forward. Pay more than
minimum. Know what the
balance is and check
statements.
Open a credit card account No credit/poor credit/limited credir
or other line of credit
secured card or personal
loan.
Make more than minimum Roger has maxed out his credit card
payment to pay down the
balances.
Apply for secured credit Molly is recent college graduate trying to apply for her
card to establish history. first credit card but has been denied:
Notify credit reporting Chris see that a bankruptcy on his report actually
agencies. belongs to his cousin, who has the same name:
, 1) You have right to know Fair Credit Reporting Act (FCRA):
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
1) You have the right to a Fair and Accurate Credit Transactions Act (FACTA):
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
1) You can dispute billing Fair Credit Billing Act (FCBA):
errors associated with your
credit card account -
creditor 30 days to
acknowledge and 90 days
to research and make
determination
2)
Which section of a credit personal information
repirt will contain employer
information?
Which section of the credit account information
report will contain
information about a student
loan?
