The Following Statements Make Assertions About the Collection and Reporting

question 183

Multiple Choice

The following statements make assertions about the collection and reporting of data on race, ethnicity, sex, and income. Which statement is false?

• A) It must be requested on all HMDA-reportable applications received in person from natural persons.
• B) It must be requested only for the loans where the application is taken in person.
• C) It must be reported unless the loan was purchased.
• D) It must be requested verbally on telephone applications.

Grasp the relationship between the price of goods and the quantity demanded according to the law of demand.

Understand the concept of market demand and how it is derived from individual demands.

Identify the role of advertising and external changes (e.g., technological, socio-economic) in affecting demand for goods.

Distinguish between movements along the demand or supply curve versus shifts in these curves.

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Definitions:

Inherited Properties

Attributes, possessions, or genetic traits transmitted from parents to their offspring through genes or by legal means after death.

Federal Minimum Wage

The lowest hourly wage that employers can legally pay their workers as mandated by the U.S. federal government.

Redlining

Discriminatory practice by banks or other financial institutions of denying or limiting financial services to certain neighborhoods based on racial or ethnic composition.

Minority Neighborhoods

Urban areas predominantly inhabited by members of racial or ethnic minority groups, often shaped by historical, social, and economic factors.