U5L2 HW Finance

A credit report summarizes the content and purpose of which of the following?

• An individual's credit history and financial behavior for lenders' evaluation

• A company's annual revenue and profit margins

• A person's educational background and qualifications

• A list of all purchases made in a year

A credit report should be analyzed for which of the following reasons?

• To check for errors and monitor credit health

• To apply for a passport

• To find job opportunities

• To compare car insurance rates

Addressing errors on a credit report involves which of the following steps?

• Dispute the error with the credit bureau

• Ignore the error and wait for it to disappear

• Contact your bank to remove the error

• Apply for a new credit card to fix the error

What does the phrase 'NO CREDIT HISTORY NO CREDIT SCORE' mean?

• You need a credit history to have a credit score

• You do not need a credit history to have a credit score

• Credit history and credit score are not related

• Everyone has a credit score automatically

How many major credit bureaus are mentioned in the passage?

• three

• two

• four

• five

Which credit bureau can you call at 888-378-4329 to request your credit report in Spanish?

• Equifax

• TransUnion

• Experian

• Innovis

To request your credit report in Spanish from Experian, which phone number should you call?

• 888-397-3742

• 800-123-4567

• 877-555-1212

• 866-987-6543

Which of the following is NOT included in the personal information section of a credit report?

• Names you've used

• Current and previous addresses

• Favorite color

• Social Security number

List two types of employers that may be included in the personal information section of a credit report.

• Current and previous employers

• Only future employers

• Employers from other countries only

• Self-employed individuals only

According to the passage, what should you do if you see addresses on your credit report that you don't recognize?

• Ignore them

• Keep an eye out for them, especially if you later spot accounts you aren't familiar with

• Delete your credit report

• Call your employer