rates on all certificates of deposit in a standardized manner payments with and

Rates on all certificates of deposit in a

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rates on all certificates of deposit in a standardized manner. payments with and without credit life insurance. consumer loan finance charges in a standardized manner. finance charges on loans over $100,000 in a standardized manner. Question 4 0 / 1 point Which of the following are lenders prohibited from asking on a credit application? The applicant's income If the applicant has a telephone
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If the applicant has declared bankruptcy in the past How long the applicant has been on the job Lenders are not prohibited from asking any of the above Question 5 0 / 1 point Which of the following is an example of a non-installment loan? Credit card Bridge loan Home equity line of credit 30-year mortgage 5-year automobile loan Question 6 0 / 1 point Which of the following has the lowest weight in determining a consumer's FICO score? Types of credit Amounts owed Payment history Length of credit history Number of delinquencies Question 7 1 / 1 point The lowest rating category for a subprime loan is: A B C D E Question 8 1 / 1 point Which of the following is a disadvantage of using a debit card? The consumer is charged higher finance charges than on a credit card. The consumer loses float. They have higher processing costs than ATMs. They have lower processing costs than checks. They are not widely available. Question 9 0 / 1 point Consumer loans differ from commercial loans in all of the following ways except:
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consumer loans are generally smaller than commercial loans. consumer loans are generally for longer terms than commercial loans. consumer loans are generally less expensive to administer on a unit basis than commercial loans. individuals are more likely to default than businesses. consumer loans in some states are still covered by usury laws. Question 10 0 / 1 point Which of the following is an example of an indirect loan? An automobile dealer negotiates the loan terms with the individual and then presents the agreement to the bank. The bank then makes the loan. An automobile dealer refers a customer to the local credit union. The customer goes to the credit union and gets an auto loan secured by the customer's certificates of deposit. A homebuyer gets a mortgage over the Internet. A student gets a student loan guaranteed by Sallie Mae. None of the above. Question 11 0 / 1 point A bank customer is granted credit for a $2,000 loan at 10% to be repaid in 12 equal installments.
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