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!

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What does a trade line refer to in a credit report?

A) Information on hobbies and interests
B) Date of birth and social security number
C) Details of credit accounts including repayment history
D) Membership in professional trade organizations

The correct answer is: C) Details of credit accounts including repayment history

A trade line refers to the detailed information about a credit account's repayment history and current status, including the type of account, credit limit, balance, and payment history. This information helps credit agencies determine a person's creditworthiness. Options A, B, and D are incorrect because they do not pertain to credit reports or creditworthiness. Hobbies, interests, date of birth, and social security number are not included in a trade line. Membership in professional trade organizations may be listed on a credit report, but it is not the same as a trade line.