You Must Deny a Request for Credit to an Applicant

question 34

Multiple Choice

You must deny a request for credit to an applicant who does not meet your company's requirements.Using a sentence such as "You are encouraged to make cash purchases" illustrates a

• A)counterproposal.
• B)bait and switch technique.
• C)confirmation of priorities.
• D)consideration of eligibility.

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Definitions:

RRSP

Registered Retirement Savings Plan, a retirement savings and investing vehicle for employees and the self-employed in Canada that offers tax benefits.

Ordinary Annuity

A series of equal payments made at regular intervals, with the interest compounding at the end of each period; commonly found in retirement accounts and loan repayments.

Ordinary Annuity

A financial product resulting in payments of a fixed amount received or paid at the end of period intervals.

Compounded Monthly

The process of adding interest to the principal sum of a loan or deposit, or in other words, interest on interest, with this process happening every month.