Chris Wanted to Get a Loan from the Bank,but He

question 35

Multiple Choice

Chris wanted to get a loan from the bank,but he had bad credit.In order to get the money,he convinced Eric to cosign as a surety.Now Chris has stopped making the payments.When is Eric liable for repayment of the loan?

• A) At any point.
• B) When Chris stopped making payments.
• C) Only after the bank attempts to recover the full amount from Chris.
• D) Never, because Eric was not the one actually using the money.

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Definitions:

Response Rate

The percentage of people who answer or participate in a survey or study compared to the total number surveyed.

Overcounting

The process or instance of recording or reporting higher numbers or quantities than actually exist, often found in contexts like population census or inventory management.

Low Probability Sample

A sampling method where individuals or elements have a low chance of being selected for participation in a study.

Representative Sample

A subset of a population carefully selected to reflect the characteristics of the larger group accurately, essential for valid and generalizable research findings.