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Becky Wants to Buy a Car but Cannot Obtain a Loan

question 26

True/False

Becky wants to buy a car but cannot obtain a loan from the bank on her own.Lori agrees to be the co-signer on Becky's loan,on the condition that Lori would only be liable for the amount of the loan if Becky actually defaults on the loan.In this situation,Lori would best be described as a guarantor.

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Definitions:

Mental Age

A measure of an individual's cognitive ability compared to the average cognitive ability of individuals in their age group.

IQ

Intelligence quotient, a measure of a person's cognitive abilities in relation to their age group.

Culture-Fair Tests

Assessments designed to minimize the influence of cultural background or language on test performance, to measure intelligence or ability more accurately.

Minimize Language

The practice of simplifying language use to the most basic necessary elements.

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