Final answer:
A credit report is not always required before rescheduling or deferring a guaranteed loan, as policies may vary. However, banks typically conduct credit checks before issuing loans and may also require a cosigner or collateral as additional security.
Step-by-step explanation:
It is false that a credit report is always required before rescheduling or deferring a guaranteed loan, as policy can vary by lender or under specific circumstances. However, in general, for financial capital markets, when a bank considers making a loan, a prospective borrower is often required to provide income information and undergo a credit check on their past borrowing. Banks use this and other methods to reassure themselves against imperfect information about the borrower's ability to repay. In addition to credit reports, two common reassurances are the use of a cosigner, somebody who legally pledges to repay some or all of the loan if the original borrower cannot, and the requirement of collateral, such as property or equipment, which the bank can seize and sell if the loan is not repaid.