iCEV Personal Finance Practice Test 2026 - Free Personal Finance Practice Questions and Study Guide

A credit report provides a comprehensive overview of an individual's credit history, which includes details about their credit usage, existing debt, and payment behavior over time. This document reflects how responsibly an individual has managed their credit accounts, such as credit cards, loans, and mortgages.

It includes information like the amounts owed, the types of credit accounts held, repayment history, and any delinquencies or defaults. This history is crucial for lenders and financial institutions when assessing an individual's creditworthiness, as it helps them determine the risk associated with lending money or extending credit. Therefore, option B accurately describes what a credit report reveals about a person's financial behavior.

The other choices do not pertain to the content of a credit report; for instance, investment opportunities, current income and expenses, and future financial projections are not captured in this document. These elements might be considered in other financial assessments but are distinct from the purpose and contents of a credit report.