Banking · Credit Scoring & Bureau Reports
Which of the following statements are correct regarding credit scoring and troubleshooting errors in a credit report? 1. Credit scoring helps banks determine the risk premium and price for the risk involved in lending. 2. A person cannot directly access their own credit report from a Credit Information Company (CIC). 3. Mistakes in a credit report can occur due to confusion of similar names or human data-entry errors. 4. The control number is a unique nine-digit number that tracks an individual's credit report from the CIC's database. 5. To resolve disputes in a credit report, one must contact the CIC exclusively without involving the lending bank under any circumstances. Choose the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 13, 4, and 5 are correct
- 21, 2, and 5 are correct
- 32, 4, and 5 are correct
- 41, 3, and 4 are correct✓
Correct answer
1, 3, and 4 are correct
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