Credit Reporting Agencies Quiz
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Questions and Answers

Which of these is not one of the three big credit reporting agencies in the United States?

  • Equifax
  • TransUnion
  • Experian
  • TransFaxUniperian (correct)

    • Which option represents one of the major functions of credit reporting agencies?

  • Granting loans to individuals
  • Managing bank accounts
  • Collecting taxes for the government
  • Providing credit scores to consumers (correct)

    • What can be a consequence of having a low credit score?

  • Increased chance of loan approval
  • Better interest rates on loans
  • Access to premium credit cards
  • Higher premiums on insurance (correct)

    • Which term is frequently used to describe the interest rate applied to a loan based on creditworthiness?

    <p>Risk premium</p> Signup and view all the answers

    Which option is typically included in a credit report?

    <p>Payment history on credit accounts</p> Signup and view all the answers

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