Ontario Mortgage Agent Practice Exam

Disable ads (and more) with a membership for a one time $4.99 payment

Prepare for the Ontario Mortgage Agent Exam with our comprehensive quiz. Study with flashcards and questions to ace your test!

Start Multiple Choice Practice Test
Start Flash Cards

Practice this question and more.

What does an R9 rating on a credit report signify?

  1. Account is up to date

  2. Account is 120 days overdue

  3. Account is in collections

  4. 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.

More Questions Like This