Which of the Following Acts Is Particularly Designed to Regulate

question 28

Multiple Choice

Which of the following Acts is particularly designed to regulate the home loan market, and put the burden on lenders to verify that a borrower can afford to repay the loan for which he or she has applied?

• A)Fair Credit Reporting Act
• B)Consumer Financial Protection Act of 2010
• C)Truth-in-Lending Act
• D)Mortgage Reform and Anti-Predatory Lending

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Definitions:

Positively Skewed Distribution

A distribution where more values fall to the left side of the mean, causing a long tail on the right, indicating that the median is less than the mean.

Sample Mean

The average value calculated from a sample of data, used as an estimate of the population mean.

Normally Distributed

Describes a distribution that follows a normal curve or bell curve, where most observations cluster around the central peak and the probabilities for values further away from the mean taper off equally in both directions.

Sampling Distribution

The distribution pattern of probabilities for a specified statistic obtained from a random sample.