Which of the Following Best Expresses the Policy Behind the Truth-In-Lending

question 50

Multiple Choice

Which of the following best expresses the policy behind the Truth-in-Lending Act?

• A) To help borrowers by requiring lenders to charge a "reasonable" rate of interest as determined by the Federal Reserve Board.
• B) To help small business by prohibiting lenders from using,as collateral for secured loans,a business's most important assets.
• C) To help debtors for loans for personal,family,household or agricultural purposes to be armed with the necessary information on a loan to better bargain for credit and to choose the creditor with the best terms.
• D) To help lenders by permitting them to investigate a person's credit history without having to worry about state libel laws.

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Definitions:

Gamete

A mature haploid male or female germ cell which is able to unite with another of the opposite sex in sexual reproduction to form a zygote.

Chromosome

A thread-like structure of nucleic acids and protein found in the nucleus of most living cells, carrying genetic information in the form of genes.

Zygote

The initial cell formed when a new organism is produced by the merging of an egg and sperm cell during fertilization.

DNA

Deoxyribonucleic acid, a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.