HUD Certification Exam/ 115 Quizzes & Correct
Ans
The section of a credit report that contains information about a student loan. -
Answer: Account Information
The section of the credit report that contains court information such as a
bankruptcy. - Answer: Public Records
The section of the credit report that will show recent attempts to open a credit
card. - Answer: Inquiries
The section of the credit report that contains information about how to correct
inaccuracies. - Answer: Consumer Rights
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,Credit: Payment history of accounts, including late payments, delinquencies,
judgments, and liens. - Answer: Account History
Credit: Ratio of total credit extended to the amount of credit owed. - Answer:
Amounts Owed
Credit: Overall length of credit history in the report as well as the average age of
accounts. - Answer: Length of Credit History
Credit: Variety of accounts (e.g. credit card, auto loan, mortgage) - Answer: Types
of Credit
Credit: Number of recent credit inquiries, as well as new credit accounts. -
Answer: New Credit
Where does a client go to get a free credit report? - Answer:
AnnualCreditReport.com
You have the right to dispute information in your credit file that is incomplete,
inaccurate, or unverifiable. - Answer: Fair Credit Reporting Act (FCRA)
You have the right to a free annual credit report. - Answer: Fair and Accurate
Credit Transactions Act (FACTA)
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, You have the right to place a fraud alert on your credit file. - Answer: Fair and
Accurate Credit Transactions Act (FACTA)
You have the right to know what is in your credit file. - Answer: Fair Credit
Reporting Act (FCRA)
Which federal law protects a consumer's right to dispute a billing error associated
with his/her credit card account. - Answer: Fair Credit Billing Act (FCBA)
What act limits employers access to persons credit report. - Answer: Fair Credit
Reporting Act (FCRA)
Fee charged when a client sends a payment to another account electronically
through electronic funds transfer (EFT) - Answer: Wire Transfer Fee
Fee charged when an account doesn't have money to cover a purchase and the
financial institution loans money to complete the payment. - Answer: Overdraft
Fee
Fee charged to invalidate a check before it is cashed. - Answer: Stop Payment Fee
Fee charged if there is not enough money in an account to cover a check payment
of other purchase. - Answer: NSF Fee
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Ans
The section of a credit report that contains information about a student loan. -
Answer: Account Information
The section of the credit report that contains court information such as a
bankruptcy. - Answer: Public Records
The section of the credit report that will show recent attempts to open a credit
card. - Answer: Inquiries
The section of the credit report that contains information about how to correct
inaccuracies. - Answer: Consumer Rights
Page 1 of 17
,Credit: Payment history of accounts, including late payments, delinquencies,
judgments, and liens. - Answer: Account History
Credit: Ratio of total credit extended to the amount of credit owed. - Answer:
Amounts Owed
Credit: Overall length of credit history in the report as well as the average age of
accounts. - Answer: Length of Credit History
Credit: Variety of accounts (e.g. credit card, auto loan, mortgage) - Answer: Types
of Credit
Credit: Number of recent credit inquiries, as well as new credit accounts. -
Answer: New Credit
Where does a client go to get a free credit report? - Answer:
AnnualCreditReport.com
You have the right to dispute information in your credit file that is incomplete,
inaccurate, or unverifiable. - Answer: Fair Credit Reporting Act (FCRA)
You have the right to a free annual credit report. - Answer: Fair and Accurate
Credit Transactions Act (FACTA)
Page 2 of 17
, You have the right to place a fraud alert on your credit file. - Answer: Fair and
Accurate Credit Transactions Act (FACTA)
You have the right to know what is in your credit file. - Answer: Fair Credit
Reporting Act (FCRA)
Which federal law protects a consumer's right to dispute a billing error associated
with his/her credit card account. - Answer: Fair Credit Billing Act (FCBA)
What act limits employers access to persons credit report. - Answer: Fair Credit
Reporting Act (FCRA)
Fee charged when a client sends a payment to another account electronically
through electronic funds transfer (EFT) - Answer: Wire Transfer Fee
Fee charged when an account doesn't have money to cover a purchase and the
financial institution loans money to complete the payment. - Answer: Overdraft
Fee
Fee charged to invalidate a check before it is cashed. - Answer: Stop Payment Fee
Fee charged if there is not enough money in an account to cover a check payment
of other purchase. - Answer: NSF Fee
Page 3 of 17
