20
QuizMultiple Choice

Financial Planning and Consumer Protection — Test

Question 20 • CMS 2026-2027 Economics and Personal Finance INITIAL CREDIT

Which statement best describes the role of a credit agency?

Answer
A
It teaches how to make smart financial decisions.
B
It tracks the use of credit for lenders.
C
It shows how saving money makes financial sense.
D
It predicts future earning potential for lenders.

Explanation

A credit agency collects and maintains information about people’s credit accounts and payment histories. Lenders use that information to assess applicants, so the best answer is “It tracks the use of credit for lenders.”

AI-written and checked against the verified answer.

Previous
Next