Answer: C. Record of reported credit history. A credit report records credit accounts, repayment history, and enquiries reported by lenders.
Who commonly supplies account information to credit bureaus?
A Banks and financial institutions
B Retail customers
C Mobile phone makers
D Travel companies
Answer: A. Banks and financial institutions. Credit bureaus compile information received from banks and financial institutions.
Which section lists credit accounts?
A Rewards section
B Savings section
C Shopping section
D Accounts section
Answer: D. Accounts section. The accounts section contains details of credit facilities reported to the bureau.
What does an Enquiries section record?
A ATM cash withdrawals
B Lender checks for credit applications
C Merchant refund requests
D Card reward redemptions
Answer: B. Lender checks for credit applications. The enquiries section records lender checks associated with credit applications.
Which personal details may appear in a credit report?
A Social media posts
B Name and identification details
C Shopping preferences
D Personal email passwords
Answer: B. Name and identification details. Reports can include identity information such as name and identification numbers, as supplied by members.
What may the Employment section contain?
A A full payslip archive
B Employer performance reviews
C Tax return documents
D Information reported by lenders
Answer: D. Information reported by lenders. Employment details may appear when reported by credit institutions.
Where might a report show address information?
A Contact information section
B Reward ledger
C Payment network list
D Merchant directory
Answer: A. Contact information section. Contact details reported by lenders can appear in a report’s contact-information section.
How can a report display repayment behavior?
A Future loan predictions
B Savings account growth
C Month-by-month payment history
D Retail purchase preferences
Answer: C. Month-by-month payment history. A report can show a monthly record of payments for credit accounts.
Which accounts can appear in a credit report?
A Only current savings accounts
B Only rejected applications
C Every retail purchase
D Open and closed credit accounts
Answer: D. Open and closed credit accounts. Reports can include details of both active and closed credit accounts.
What is generally not recorded as credit history?
A Credit card repayment
B Savings and fixed deposits
C Loan account balances
D Credit enquiries
Answer: B. Savings and fixed deposits. CIBIL states that savings, investments, and fixed deposits are not part of its credit report.
How does a credit report differ from a credit score?
A A score lists every transaction
B A report is an approval
C Detailed record versus summary
D Both are bank statements
Answer: C. Detailed record versus summary. A report provides detailed credit information; a score summarizes aspects of that history.
What does a credit score summarize?
A Credit-history information
B Savings account deposits
C Monthly household bills
D Merchant refund activity
Answer: A. Credit-history information. A credit score summarizes information in the credit history.
Why might a lender review a credit report?
A Assess credit history and risk
B Check product purchases
C Measure savings interest
D Verify a merchant’s sales
Answer: A. Assess credit history and risk. Lenders can use reported credit behavior when evaluating a credit application.
Who makes the final lending decision?
A The credit bureau
B The merchant
C The payment network
D The lender
Answer: D. The lender. The lender decides whether to approve an application; a bureau supplies information.
What should a consumer do about an incorrect account entry?
A Edit the report personally
B Raise an official dispute
C Ignore the account
D Ask retailer to remove it
Answer: B. Raise an official dispute. Use the bureau’s or lender’s official dispute process to investigate inaccurate information.
Can a bureau unilaterally change lender-reported account data?
A Yes, on any request
B Only after a card renewal
C No, lender authorization is needed
D Whenever a score changes
Answer: C. No, lender authorization is needed. CIBIL says changes to report data require authorization and information from the concerned credit institution.
Who can confirm an account-data correction?
A A retail merchant
B The reporting credit institution
C The card network logo
D A rewards partner
Answer: B. The reporting credit institution. The institution that reported the information can verify and authorize an update.
What can happen after a report dispute is filed?
A The reported information is investigated
B A loan is automatically approved
C The score becomes zero
D All accounts are removed
Answer: A. The reported information is investigated. The bureau and reporting institution investigate a dispute; the result depends on the evidence.
How may a report mark disputed information?
A As a reward
B As a savings account
C As a cash advance
D As under dispute
Answer: D. As under dispute. A report may identify an account section as disputed while an investigation is underway.
Which account detail can appear in a report?
A Card colour preference
B Merchant opening hours
C Date of last payment
D Phone wallpaper
Answer: C. Date of last payment. Account information may include payment dates and other credit-facility details.
What may an account ownership field identify?
A Individual or joint ownership
B A merchant’s owner
C A card network region
D An account password
Answer: A. Individual or joint ownership. Reports can identify ownership details for credit accounts.
Which detail may help identify an enquiry?
A Card design and colour
B Merchant’s store size
C Lender and enquiry date
D Reward expiry only
Answer: C. Lender and enquiry date. Enquiry records can show the lender, date, and type of credit applied for.
Does checking your own CIBIL report affect your score?
A Yes, every check lowers it
B Only once per year
C Only after a loan
D No, self-checking does not
Answer: D. No, self-checking does not. CIBIL states that checking your own score and report does not impact the score.
When might a lender access a credit report?
A At every grocery purchase
B While processing a credit application
C When a reward expires
D When a card is printed
Answer: B. While processing a credit application. A lender may review a report when evaluating an application for credit.
How can report data become outdated?
A Reports update every purchase instantly
B Bureaus ignore payment data
C Lender updates may arrive later
D Scores prevent new entries
Answer: C. Lender updates may arrive later. Credit information is supplied by lenders, so reported data may lag behind recent account activity.
Which information may be listed under contact details?
A Retail shopping lists
B Travel itineraries
C Bank login credentials
D Reported addresses and phone numbers
Answer: D. Reported addresses and phone numbers. Contact information reported by member institutions can appear in the relevant report section.
What can NA or NH mean on a score display?
A Guaranteed approval
B Insufficient credit history
C A closed savings account
D A card fee waiver
Answer: B. Insufficient credit history. NA or NH can indicate that the bureau lacks enough credit history to generate a score.
How often can an eligible Indian consumer get a free CIBIL report?
A Once per calendar year
B Every business day
C Once per loan
D Only after rejection
Answer: A. Once per calendar year. CIBIL states that one free score and report is available per calendar year under RBI guidelines.
Which details can a credit report contain besides accounts?
A A complete salary slip
B Bank passwords
C Merchant inventory
D Personal and enquiry information
Answer: D. Personal and enquiry information. A report can include identity, contact, employment, account, and enquiry information.
Why review a report periodically?
A Spot unfamiliar data or errors
B Increase the APR
C Change the credit limit
D Earn cashback
Answer: A. Spot unfamiliar data or errors. Periodic review can help identify inaccuracies or accounts and enquiries the consumer does not recognize.
What can an unfamiliar account indicate?
A Guaranteed score increase
B A new reward category
C Possible reporting error or fraud
D A longer billing cycle
Answer: C. Possible reporting error or fraud. An unrecognized account should be checked with the reporting institution and bureau through official channels.
How can an inaccurate report entry affect a consumer?
A It always improves the score
B It may misstate credit history
C It removes all debt
D It changes card artwork
Answer: B. It may misstate credit history. An inaccurate entry can misrepresent the consumer’s credit history and should be investigated.
What should accompany a report dispute?
A A card PIN
B Relevant account details and evidence
C A merchant’s password
D An unrelated receipt
Answer: B. Relevant account details and evidence. Clear account details and supporting documents can help the institution review the dispute.
Which data can remain visible after an account closes?
A Only future transactions
B A savings account PIN
C A merchant’s inventory
D Closed account information
Answer: D. Closed account information. Closed credit accounts may remain part of the reported credit history.
What may a credit report show about a card?
A The card’s colour
B The user’s phone model
C Credit limit and balance
D Merchant staff details
Answer: C. Credit limit and balance. Credit account details can include limits and current balances as reported by the lender.
How can the report’s monthly payment record help?
A Show repayment patterns over time
B Forecast exact income
C Set future card fees
D Guarantee loan approval
Answer: A. Show repayment patterns over time. A month-by-month record can help readers understand reported repayment behavior.
Is a lender enquiry the same as a new credit account?
A Yes, every enquiry opens credit
B Only if cash is withdrawn
C Only after card issuance
D No, it records a check
Answer: D. No, it records a check. An enquiry records a lender’s report check; it does not itself create a new account.
What can an enquiry suggest to a lender?
A A savings withdrawal
B A recent credit application
C A merchant refund
D A card replacement
Answer: B. A recent credit application. An enquiry can indicate that the consumer recently applied for credit.
Which section helps identify active credit facilities?
A Accounts section
B Contact section
C Reward section
D Employment section
Answer: A. Accounts section. The accounts section lists credit facilities, including active accounts.
What should a consumer verify after a lender corrects data?
A The card’s printed design
B The merchant’s refund window
C The updated report entry
D The reward category
Answer: C. The updated report entry. Review the updated report to confirm that the disputed account detail was corrected.
Which statement about CIBIL and approvals is correct?
A CIBIL sets every loan amount
B CIBIL issues credit cards
C CIBIL guarantees approvals
D CIBIL does not approve applications
Answer: D. CIBIL does not approve applications. CIBIL provides credit information; lenders decide whether to approve credit.
Why might a score change after a report update?
A A card’s colour changed
B A merchant moved stores
C Underlying credit information changed
D The consumer checked the report
Answer: C. Underlying credit information changed. A score can change when updated account or enquiry data changes the credit profile.
What does the report not provide?
A Account and payment history
B A guaranteed lending outcome
C Credit enquiries
D Reported balances
Answer: B. A guaranteed lending outcome. A report supplies information but does not guarantee how a lender will decide.
How can a consumer safely challenge an inaccurate report?
A Contact the bureau or lender
B Post account details publicly
C Share OTPs with callers
D Ask merchant to edit it
Answer: A. Contact the bureau or lender. Official channels protect account information and route corrections to the responsible institution.
Which source determines what appears in a report?
A A consumer’s social feed
B Retailer advertisements
C Information reported by lenders
D A card’s printed number
Answer: C. Information reported by lenders. Credit reports are compiled from information supplied by member lenders and financial institutions.
What can a report’s enquiry history help reveal?
A Savings interest earned
B Recent lender checks
C Shopping preferences
D Reward points used
Answer: B. Recent lender checks. The enquiry section shows lender checks tied to credit applications.
When might a report contain a closed account?
A Only before first payment
B Only after a reward expires
C Never in any report
D After the account is closed
Answer: D. After the account is closed. Closed accounts can remain part of a credit history record.
Why should a report be kept private?
A It contains sensitive personal data
B It is a public advertisement
C It changes the card’s APR
D It has no identity details
Answer: A. It contains sensitive personal data. Reports contain personal and credit-account information that should be shared only through secure, authorized channels.
What is a useful final check after a dispute is resolved?
A Open another account immediately
B Delete all statements
C Confirm the report reflects outcome
D Share the score publicly
Answer: C. Confirm the report reflects outcome. After resolution, review the updated report to ensure the outcome is reflected.
After a report correction, what is not guaranteed?
A The corrected account entry
B A specific score change
C Updated lender data
D An accurate report display
Answer: B. A specific score change. A correction can fix the report, but the resulting score movement is not guaranteed because scoring depends on all reported information.