Which of the Following Statements Is Not Correct in Relation

question 14

Multiple Choice

Which of the following statements is not correct in relation to Chapter 3,which is aimed at informing consumers and deterring them from making unsuitable credit contracts?

• A)Credit providers must assess whether a credit contract is unsuitable for a credit applicant.
• B)A credit contract that requires the consumer to sell their principal place of residence to repay a loan is likely to cause substantial hardship.
• C)Credit providers are prevented by privacy laws from verifying a consumer's requirements and financial situation.
• D)A credit contract will be unsuitable if it causes a consumer to suffer substantial hardship.

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Definitions:

Verification

The process of establishing the truth, accuracy, or validity of something.

Risks And Liabilities

Potential hazards or debts that could lead to negative consequences for individuals or organizations.

Crisis Dimensions

Various aspects or features that define and impact the nature and severity of a crisis, such as its scope, intensity, and duration.

Ethics-Auditing Process

A systematic evaluation of an organization's ethics policies, practices, and outcomes to ensure adherence to ethical standards and identify areas for improvement.