HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 200 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_flwrs6
1. Which section of a credit repirt will contain employer personal informa-
information? tion
2. Which section of the credit report will contain infor- account informa-
mation about a student loan? tion
3. Which section of a credit report will contain court Public records
information such as bankruptcy?
4. Which section of the credit report will show recent Inquiries
attempts to open a credit card?
5. Which section of a credit report will contain informa- Consumer rights
tion about how to correct inaccuracies?
6. Credit history length 15% of credit
score
7. Based on types of credit used 10% of credit
score
8. New credit 10% of credit
score based on
9. Ratio or total credit extended to the amount of credit amounts owed
owed
10. Number of recent credit inquiries, as well as new New Credit
credit accounts
11. Review credit report and dispute inaccuracies. Keep Incorrect informa-
records of dispute information. tion on credit re-
port
12. Get current and pay on time going forward. Set up Delinquencies/col-
payment reminders. Adjust budget to factor in all lections/judg-
monthly payments. ments
13.
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 200 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_flwrs6
Pay down debt and keep balances low moving for- Credit card maxed
ward. Pay more than minimum. Know what the bal- out/too much debt
ance is and check statements.
14. Open a credit card account or other line of credit No cred-
secured card or personal loan. it/poor credit/limit-
ed credir
15. Make more than minimum payment to pay down the Roger has maxed
balances. out his credit card
16. Apply for secured credit card to establish history. Molly is recent col-
lege graduate try-
ing to apply for her
first credit card but
has been denied:
17. Notify credit reporting agencies. Chris see that
a bankruptcy on
his report actual-
ly belongs to his
cousin, who has
the same name:
18. 1) You have right to know what is in your file Fair Credit Report-
2) You have the right to dispute incomplete or inaccu- ing Act (FCRA):
rate information
3) Access to your file is limited
4) You may seek damages from violators
19. 1) You have the right to a free credit report Fair and Accu-
2) You have the right to place a fraud alert on your rate Credit Trans-
credit file actions Act (FAC-
3) Credit card numbers must be truncated so the full TA):
number is not visible on receipts
20. 1) You can dispute billing errors associated with your Fair Credit Billing
credit card account - creditor 30 days to acknowledge Act (FCBA):
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 200 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_flwrs6
and 90 days to research and make determination
2)
21. Number of recent credit inquiries, as well as new New credir
credit accounts
22. 1) You can dispute billing errors associated with your Fair Credit Billing
credit card account - creditor 30 days to acknowledge Act (FCBA):
and 90 days to research and make determination
2) Creditors must send billing statements to con-
sumers at least 14 days before the payment is due
23. (FCRA) Fair Credit Reporting Act Matt wants to limit
his employers ac-
cess to his credit
report:
24. (FCRA) Fair Credit Reporting Act Peter wants to dis-
pute inaccurate in-
formation in his
credit report:
25. (FCBA) Fair Credit Billing Act Amy sees a
charge she did not
make on her cred-
it card statement
and wants to dis-
pute it:
26. (FACTA) Fair and Accurate Credit Transaction Act Jen has been a
victim of identity
theft and wants to
place a fraud ac-
count on her credit
file:
27. (FACTA) Fair and Accurate Credit Transaction Act
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 200 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_flwrs6
Mary wants to re-
view her credit re-
port for free:
28. A vendor can display part of the credit card number Which compiles
on the receipt with fair credit
laws?
29. Fair Credit Billing Act (FCBA) Which Federal law
protects a con-
sumer's right to
dispute a billing
error with his or
her credit card ac-
count?
30. Regular salary, temp jobs, unemployment, and public Track income
assistance items to include:
31. Payment information for paid-off vehicle All of the follow-
ing would help a
counselor develop
a realistic house-
hold budget ex-
cept:
32. It helps show clients that their spending and expens- All of the following
es are out of control are reasons why it
is important for a
client to track in-
come and expens-
es before finaliz-
ing a budget, ex-
cept:
33. Factor in anticipated raise All of the fol-
lowing are effec-
tive strategies to
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_flwrs6
1. Which section of a credit repirt will contain employer personal informa-
information? tion
2. Which section of the credit report will contain infor- account informa-
mation about a student loan? tion
3. Which section of a credit report will contain court Public records
information such as bankruptcy?
4. Which section of the credit report will show recent Inquiries
attempts to open a credit card?
5. Which section of a credit report will contain informa- Consumer rights
tion about how to correct inaccuracies?
6. Credit history length 15% of credit
score
7. Based on types of credit used 10% of credit
score
8. New credit 10% of credit
score based on
9. Ratio or total credit extended to the amount of credit amounts owed
owed
10. Number of recent credit inquiries, as well as new New Credit
credit accounts
11. Review credit report and dispute inaccuracies. Keep Incorrect informa-
records of dispute information. tion on credit re-
port
12. Get current and pay on time going forward. Set up Delinquencies/col-
payment reminders. Adjust budget to factor in all lections/judg-
monthly payments. ments
13.
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 200 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_flwrs6
Pay down debt and keep balances low moving for- Credit card maxed
ward. Pay more than minimum. Know what the bal- out/too much debt
ance is and check statements.
14. Open a credit card account or other line of credit No cred-
secured card or personal loan. it/poor credit/limit-
ed credir
15. Make more than minimum payment to pay down the Roger has maxed
balances. out his credit card
16. Apply for secured credit card to establish history. Molly is recent col-
lege graduate try-
ing to apply for her
first credit card but
has been denied:
17. Notify credit reporting agencies. Chris see that
a bankruptcy on
his report actual-
ly belongs to his
cousin, who has
the same name:
18. 1) You have right to know what is in your file Fair Credit Report-
2) You have the right to dispute incomplete or inaccu- ing Act (FCRA):
rate information
3) Access to your file is limited
4) You may seek damages from violators
19. 1) You have the right to a free credit report Fair and Accu-
2) You have the right to place a fraud alert on your rate Credit Trans-
credit file actions Act (FAC-
3) Credit card numbers must be truncated so the full TA):
number is not visible on receipts
20. 1) You can dispute billing errors associated with your Fair Credit Billing
credit card account - creditor 30 days to acknowledge Act (FCBA):
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 200 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_flwrs6
and 90 days to research and make determination
2)
21. Number of recent credit inquiries, as well as new New credir
credit accounts
22. 1) You can dispute billing errors associated with your Fair Credit Billing
credit card account - creditor 30 days to acknowledge Act (FCBA):
and 90 days to research and make determination
2) Creditors must send billing statements to con-
sumers at least 14 days before the payment is due
23. (FCRA) Fair Credit Reporting Act Matt wants to limit
his employers ac-
cess to his credit
report:
24. (FCRA) Fair Credit Reporting Act Peter wants to dis-
pute inaccurate in-
formation in his
credit report:
25. (FCBA) Fair Credit Billing Act Amy sees a
charge she did not
make on her cred-
it card statement
and wants to dis-
pute it:
26. (FACTA) Fair and Accurate Credit Transaction Act Jen has been a
victim of identity
theft and wants to
place a fraud ac-
count on her credit
file:
27. (FACTA) Fair and Accurate Credit Transaction Act
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 200 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_flwrs6
Mary wants to re-
view her credit re-
port for free:
28. A vendor can display part of the credit card number Which compiles
on the receipt with fair credit
laws?
29. Fair Credit Billing Act (FCBA) Which Federal law
protects a con-
sumer's right to
dispute a billing
error with his or
her credit card ac-
count?
30. Regular salary, temp jobs, unemployment, and public Track income
assistance items to include:
31. Payment information for paid-off vehicle All of the follow-
ing would help a
counselor develop
a realistic house-
hold budget ex-
cept:
32. It helps show clients that their spending and expens- All of the following
es are out of control are reasons why it
is important for a
client to track in-
come and expens-
es before finaliz-
ing a budget, ex-
cept:
33. Factor in anticipated raise All of the fol-
lowing are effec-
tive strategies to
