Online Loan Companies (Like LendingTree)attempt to Return Quotes for Loans

question 61

True/False

Online loan companies (like LendingTree)attempt to return quotes for loans within an hour.With more traditional banks,getting a quote on a loan may take weeks to a month.Two techniques that were probably carefully analyzed in creating online loan quotation systems would be duration analysis and activity elimination.

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Definitions:

Socioeconomic Character

Descriptive attributes of individuals or groups based on their economic and social position in society.

Unqualified Opinion

An opinion issued by an auditor that indicates that the financial records of a firm are an accurate reflection of the firm’s financial status.

Financial Records

Documents that contain information about an entity's financial transactions and status, such as balance sheets, income statements, and cash flow statements.

Financial Status

Describes the current state of an individual’s or organization’s finances, including income, debts, assets, and liabilities.