Ellen,age 25,was Recently Divorced and Has Applied to Mayberry Bank

question 7

Multiple Choice

Ellen,age 25,was recently divorced and has applied to Mayberry Bank for a loan.The bank,as regulated by the Equal Credit Opportunity Act:

• A) can ask her if she is married.
• B) can ask her if she plans to have children soon.
• C) can discount her loan rating because she is 25 and likely to have children within the next five years.
• D) must notify Ellen within 30 days after receiving her credit application of the action taken,and if she is denied credit,the bank must give her specific reasons for the denial.

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Definitions:

Multiply

The arithmetic process of calculating the result of adding a number to itself a certain number of times.

Simplify

To simplify means to reduce an expression or equation to its simplest form, by combining like terms, reducing fractions, etc.

Combine

The process of uniting two or more expressions into a single expression using mathematical operations.

Simplify

The process of making an expression easier to understand or work with by combining like terms, reducing fractions, etc.