Equal Credit Opportunity Refers to the Requirement That Creditors

question 421

Multiple Choice

Equal credit opportunity refers to the requirement that creditors:

• A) must disclose all relevant terms in credit transactions
• B) must not use sex or race to determine a person's creditworthiness
• C) must not use abusive debt collection techniques
• D) all of the other specific choices are correct
• E) none of the other specific choices are correct

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Definitions:

Separation of Powers

A constitutional principle dividing the responsibilities of government among different branches (typically executive, legislative, and judicial) to prevent the concentration of power and provide checks and balances.

Checks and Balances

A system within a government that ensures no single branch becomes too powerful by providing each branch the authority to limit the powers of the others.

Republicanism

A political ideology that values the principles of a republic, emphasizing civic virtue, liberty, and resistance to corruption and monarchy.

Common Sense

Practical judgment concerning everyday matters, or a basic ability to perceive, understand, and judge in a manner that is shared by (common to) nearly all people.