Financial Counseling Certification Practice Exam 2026 – Complete Prep Guide

Individuals are entitled to obtain a free credit report once a year from each of the three major credit bureaus: Equifax, Experian, and TransUnion. This means that consumers can access a total of three free credit reports annually, one from each bureau. This policy is designed to help consumers keep track of their credit history and monitor for inaccuracies or fraudulent activities. With this annual access, individuals can better manage their credit health and take necessary actions if needed.

The option stating once every six months is inaccurate as it does not reflect the standard guidelines set forth by the Fair Credit Reporting Act. Similarly, the option suggesting twice a year from all credit agencies also misrepresents the allowed frequency of obtaining free credit reports. The last choice about every two years from selected lenders does not align with the universal right of consumers to receive their credit reports from the major bureaus independently and free of charge.