Which Is NOT True About the Fair Credit Reporting Act

question 141

Multiple Choice

Which is NOT true about the Fair Credit Reporting Act?

• A) It regulates the use of credit reports.
• B) It requires deletion of out-of-date information.
• C) It places limits on who can obtain your credit report.
• D) It places limits on who can obtain a report.
• E) It gives borrowers the right to know why they are denied credit.

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Definitions:

Statistical Tests

Procedures for making decisions about a population based on sample data, often used to test hypotheses.

Real Effect

The true impact or influence observed in an experiment or study, as opposed to effects seen by chance or due to confounding variables.

Possibility of Error

The probability that a statistical inference or decision made might be incorrect due to the limitations of sampling or experimental design.

Statistical Significance

The probability that an observed difference or relationship exists in a population, not just in the sample studied.