Ontario Mortgage Agent Practice Exam

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Study for the Ontario Mortgage Agent Exam. Prepare with flashcards and multiple choice questions, each question includes hints and explanations. Get ready for your test!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What can an individual do if they dispute an item in their credit report?

Contact the Credit Bureau to remove the item
Contact the lender to resolve the dispute
Do nothing, disputes are not considered
Wait for the item to be automatically removed

The correct answer is: Contact the Credit Bureau to remove the item

An individual should not do nothing (Option C) because disputes can have a significant impact on their credit score. It is important to take action to resolve any errors or issues on a credit report. Waiting for the item to be automatically removed (Option D) may take a long time and may not happen at all. The best course of action is to directly contact the Credit Bureau (Option A) and provide evidence to support the dispute. Contacting the lender (Option B) may also be helpful in resolving the dispute, but it is important to also contact the Credit Bureau to ensure the item is removed from the credit report.