Which of the Following Is True of the Fair Credit

question 36

Multiple Choice

Which of the following is true of the Fair Credit Reporting Act?

• A) Adverse information from the person's credit report must be removed after three years.
• B) A person is entitled to a free copy of his or her credit report from each of the three main credit bureaus every six months.
• C) An applicant denied credit has the right to be told the name and address of the credit bureau that prepared the report on which the denial was based.
• D) The agency must furnish the consumer the information free if requested within a year of the rejection.
• E) Any person who obtains information from a credit agency under false pretenses is subject only to civil penalties.

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Definitions:

Personality Hardiness

A personality characterized by commitment, control, and challenge and, hence, resistant to distress.

Distress Resistant

Distress resistant refers to the ability of an individual to withstand or cope with stress and adversity without experiencing debilitating effects on their mental or physical health.

Commitment, Control, Challenge

Three elements essential for effectively managing stress and fostering resilience, according to the Hardiness Theory.

Employer Sharing Profits

A business strategy where companies distribute a portion of their profits to their employees, often as a bonus or part of a benefit plan.