The National Credit Code Imposes on All Holders of an Australian

question 37

Multiple Choice

The National Credit Code imposes on all holders of an Australian credit license an obligation to engage in:

• A)Charitable lending
• B)Responsible lending
• C)Payday lending
• D)Conservative lending

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Definitions:

Liability

A legal obligation or debt that an entity is bound to fulfill towards another party.

Employer's Liability

Legal responsibility of an employer for injuries, illnesses, or damages suffered by employees as a result of their employment.

Respondeat Superior

A legal principle stating that an employer or principal is legally liable for the wrongful actions of an employee or agent, provided these actions happened in the course of their employment or agency.

Employee

Someone who is classified as a paid worker for a principal.