'Responsible Lending' Under the National Credit Code Encompasses Obligations on the Part

question 52

Multiple Choice

'Responsible lending' under the National Credit Code encompasses obligations on the part of the licensed credit provider not to provide credit that is:

• A)High interest and short term.
• B)Unlikely to generate a good return for the lender.
• C)Unsuitable for the consumer.
• D)In fact low-doc or payday lending.

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Definitions:

Conclusion

The conclusion that is logically derived from the given premises in a discussion.

Symbolic Functioning

The ability to use symbols, words, or objects to represent something that is not physically present, typically emerging in children during the preoperational stage of cognitive development.

Emotional Regulation

The process of managing and responding to one’s emotional experiences in a way that is socially acceptable and allows for effective emotional response and self-control.

Situational Compliance

Refers to the behavior of adapting or acting in accordance with the demands of a specific situation or authority.