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

question 36

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:

Central Executive

The part of the brain's working memory system responsible for overseeing and regulating the flow of information from and to its various components.

Episodic Buffer

A component of the working memory system that integrates information from different sources into a single, multi-dimensional representation.

Visuospatial Sketchpad

A component of working memory responsible for holding and manipulating visual and spatial information.

Long-Term Memory

The stage of memory capable of storing information for prolonged periods, from hours to a lifetime, involving processes such as encoding, storing, and retrieval.