If a Borrower Has a High FICO Score, Then There

question 78

Multiple Choice

If a borrower has a high FICO score, then there is:

• A) a minimal chance of his or her loan getting approved.
• B) no chance of his or her loan getting approved.
• C) a high chance of having higher monthly payments for his or her loan.
• D) a high chance of more collateral requirements for his or her loan.
• E) a high chance that a lower interest rate will be charged for his or her loan.

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Definitions:

Deregulation

The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry.

Major Industries

The key sectors that are the backbone of an economy, usually characterized by large revenue and substantial impact on employment.

Deregulation

Refers to the reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry.

Carter And Reagan Administrations

The presidential terms of Jimmy Carter (1977-1981) and Ronald Reagan (1981-1989), notable for distinct economic and foreign policies.