When Applying for a Home Mortgage, Alison Has to List

question 226

Multiple Choice

When applying for a home mortgage, Alison has to list all of her monthly salary and obligations for debts and current expenses. This information is gathered to determine Alison's

• A) collateral.
• B) character.
• C) conditions.
• D) capacity.
• E) capital.

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Definitions:

International Labour Organization

A United Nations agency that sets international labor standards and promotes rights at work, encouraging decent employment opportunities and enhancing social protection for all workers.

Workers

Denotes individuals who perform tasks or services, usually for payment, within various employment settings, contributing to the production of goods or provision of services.

Poverty

A state of having insufficient financial resources or income to meet basic living needs such as food, shelter, and clothing.

Absolute Poverty

A condition characterized by the severe deprivation of basic human needs, including food, safe drinking water, health, shelter, and education.