Ontario Mortgage Agent Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

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 does an R9 rating on a credit report signify?

Account is up to date
Account is 120 days overdue
Account is in collections
Account has been repossessed

The correct answer is: Account is in collections

An R9 rating on a credit report signifies that the account is in collections. This means that the account has been sent to a debt collector or collection agency for payment because the original creditor was unable to collect the debt. This rating is considered very negative and can significantly impact your credit score. Therefore, options A, B, and D are incorrect as they do not accurately reflect the severity of having an R9 rating on a credit report.