HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 280 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_fzqb3i
1. personal infor- Which section of a credit repirt will contain employer
mation information?
2. account informa- Which section of the credit report will contain information
tion about a student loan?
3. Public records Which section of a credit report will contain court informa-
tion such as bankruptcy?
4. Inquiries Which section of the credit report will show recent at-
tempts to open a credit card?
5. Consumer rights Which section of a credit report will contain information
about how to correct inaccuracies?
6. 15% of credit Credit history length
score
7. 10% of credit Based on types of credit used
score
8. 10% of credit New credit
score based on
9. amounts owed Ratio or total credit extended to the amount of credit owed
10. New Credit Number of recent credit inquiries, as well as new credit
accounts
11. Incorrect infor- Review credit report and dispute inaccuracies. Keep
mation on credit records of dispute information.
report
12. Delinquen- Get current and pay on time going forward. Set up pay-
cies/collec- ment reminders. Adjust budget to factor in all monthly
tions/judgments payments.
13.
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 280 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_fzqb3i
Credit card Pay down debt and keep balances low moving forward.
maxed out/too Pay more than minimum. Know what the balance is and
much debt check statements.
14. No cred- Open a credit card account or other line of credit secured
it/poor credit/lim- card or personal loan.
ited credir
15. Roger has Make more than minimum payment to pay down the bal-
maxed out his ances.
credit card
16. Molly is recent Apply for secured credit card to establish history.
college graduate
trying to apply
for her first cred-
it card but has
been denied:
17. Chris see that Notify credit reporting agencies.
a bankruptcy on
his report actual-
ly belongs to his
cousin, who has
the same name:
18. Fair Credit Re- 1) You have right to know what is in your file
porting Act 2) You have the right to dispute incomplete or inaccurate
(FCRA): information
3) Access to your file is limited
4) You may seek damages from violators
19. Fair and Accu- 1) You have the right to a free credit report
rate Credit Trans- 2) You have the right to place a fraud alert on your credit
actions Act (FAC- file
TA): 3) Credit card numbers must be truncated so the full
number is not visible on receipts
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 280 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_fzqb3i
20. Fair Credit 1) You can dispute billing errors associated with your
Billing Act credit card account - creditor 30 days to acknowledge and
(FCBA): 90 days to research and make determination
2)
21. New credir Number of recent credit inquiries, as well as new credit
accounts
22. Fair Credit 1) You can dispute billing errors associated with your
Billing Act credit card account - creditor 30 days to acknowledge and
(FCBA): 90 days to research and make determination
2) Creditors must send billing statements to consumers at
least 14 days before the payment is due
23. Matt wants to (FCRA) Fair Credit Reporting Act
limit his employ-
ers access to his
credit report:
24. Peter wants to (FCRA) Fair Credit Reporting Act
dispute inaccu-
rate information
in his credit re-
port:
25. Amy sees a (FCBA) Fair Credit Billing Act
charge she did
not make on her
credit card state-
ment and wants
to dispute it:
26. Jen has been a (FACTA) Fair and Accurate Credit Transaction Act
victim of identity
theft and wants
to place a fraud
account on her
credit file:
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 280 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_fzqb3i
27. Mary wants to re- (FACTA) Fair and Accurate Credit Transaction Act
view her credit
report for free:
28. Which compiles A vendor can display part of the credit card number on the
with fair credit receipt
laws?
29. Which Federal Fair Credit Billing Act (FCBA)
law protects a
consumer's right
to dispute a
billing error with
his or her credit
card account?
30. Track income Regular salary, temp jobs, unemployment, and public as-
items to include: sistance
31. All of the follow- Payment information for paid-off vehicle
ing would help
a counselor de-
velop a realistic
household bud-
get except:
32. All of the follow- It helps show clients that their spending and expenses are
ing are reasons out of control
why it is impor-
tant for a client to
track income and
expenses before
finalizing a bud-
get, except:
33. All of the fol- Factor in anticipated raise
lowing are effec-
tive strategies to
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_fzqb3i
1. personal infor- Which section of a credit repirt will contain employer
mation information?
2. account informa- Which section of the credit report will contain information
tion about a student loan?
3. Public records Which section of a credit report will contain court informa-
tion such as bankruptcy?
4. Inquiries Which section of the credit report will show recent at-
tempts to open a credit card?
5. Consumer rights Which section of a credit report will contain information
about how to correct inaccuracies?
6. 15% of credit Credit history length
score
7. 10% of credit Based on types of credit used
score
8. 10% of credit New credit
score based on
9. amounts owed Ratio or total credit extended to the amount of credit owed
10. New Credit Number of recent credit inquiries, as well as new credit
accounts
11. Incorrect infor- Review credit report and dispute inaccuracies. Keep
mation on credit records of dispute information.
report
12. Delinquen- Get current and pay on time going forward. Set up pay-
cies/collec- ment reminders. Adjust budget to factor in all monthly
tions/judgments payments.
13.
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 280 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_fzqb3i
Credit card Pay down debt and keep balances low moving forward.
maxed out/too Pay more than minimum. Know what the balance is and
much debt check statements.
14. No cred- Open a credit card account or other line of credit secured
it/poor credit/lim- card or personal loan.
ited credir
15. Roger has Make more than minimum payment to pay down the bal-
maxed out his ances.
credit card
16. Molly is recent Apply for secured credit card to establish history.
college graduate
trying to apply
for her first cred-
it card but has
been denied:
17. Chris see that Notify credit reporting agencies.
a bankruptcy on
his report actual-
ly belongs to his
cousin, who has
the same name:
18. Fair Credit Re- 1) You have right to know what is in your file
porting Act 2) You have the right to dispute incomplete or inaccurate
(FCRA): information
3) Access to your file is limited
4) You may seek damages from violators
19. Fair and Accu- 1) You have the right to a free credit report
rate Credit Trans- 2) You have the right to place a fraud alert on your credit
actions Act (FAC- file
TA): 3) Credit card numbers must be truncated so the full
number is not visible on receipts
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 280 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_fzqb3i
20. Fair Credit 1) You can dispute billing errors associated with your
Billing Act credit card account - creditor 30 days to acknowledge and
(FCBA): 90 days to research and make determination
2)
21. New credir Number of recent credit inquiries, as well as new credit
accounts
22. Fair Credit 1) You can dispute billing errors associated with your
Billing Act credit card account - creditor 30 days to acknowledge and
(FCBA): 90 days to research and make determination
2) Creditors must send billing statements to consumers at
least 14 days before the payment is due
23. Matt wants to (FCRA) Fair Credit Reporting Act
limit his employ-
ers access to his
credit report:
24. Peter wants to (FCRA) Fair Credit Reporting Act
dispute inaccu-
rate information
in his credit re-
port:
25. Amy sees a (FCBA) Fair Credit Billing Act
charge she did
not make on her
credit card state-
ment and wants
to dispute it:
26. Jen has been a (FACTA) Fair and Accurate Credit Transaction Act
victim of identity
theft and wants
to place a fraud
account on her
credit file:
, HUD COUNSELOR EXAM 2024-2025 ACTUAL EXAM 280 QUESTIONS
AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED A
SWERS) |ALREADY GRADED A+
Study online at https://quizlet.com/_fzqb3i
27. Mary wants to re- (FACTA) Fair and Accurate Credit Transaction Act
view her credit
report for free:
28. Which compiles A vendor can display part of the credit card number on the
with fair credit receipt
laws?
29. Which Federal Fair Credit Billing Act (FCBA)
law protects a
consumer's right
to dispute a
billing error with
his or her credit
card account?
30. Track income Regular salary, temp jobs, unemployment, and public as-
items to include: sistance
31. All of the follow- Payment information for paid-off vehicle
ing would help
a counselor de-
velop a realistic
household bud-
get except:
32. All of the follow- It helps show clients that their spending and expenses are
ing are reasons out of control
why it is impor-
tant for a client to
track income and
expenses before
finalizing a bud-
get, except:
33. All of the fol- Factor in anticipated raise
lowing are effec-
tive strategies to
