Ontario Mortgage Agent Practice Exam

What is the best method for an individual to obtain their credit report?

1. Through a Mortgage Agent

2. By contacting Equifax or Transunion directly

3. By requesting it from their bank

4. By requesting it from their employer

The correct answer is: By contacting Equifax or Transunion directly

Obtaining a credit report through a mortgage agent (A) may not be the best method as their main priority is to help clients secure a mortgage, not provide credit reports. Requesting from a bank (C) is not the most reliable option as not all banks offer credit reports and those that do may charge a fee. Requesting from an employer (D) is not recommended as employers typically only obtain credit reports for employment verification purposes. The best and most accurate method would be to contact Equifax or Transunion directly (B). These agencies are responsible for collecting and maintaining credit information and are the most trusted sources for credit reports. They also provide options for individuals to request their credit report online, by phone, or by mail.