If Your Credit Application Is Denied,you

question 77

Multiple Choice

If your credit application is denied,you:

• A)should sue the credit rating agency.
• B)should file a complaint against the merchant.
• C)have no legal right to know why.
• D)are entitled to know the specific reason you were denied credit.
• E)can reapply for credit after 30 days.

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Encourage Doubt

To promote questioning or skepticism about certain beliefs or assumptions.

Directive Leadership

A leadership style characterized by providing clear instructions, setting goals, and closely supervising tasks to ensure they are completed as required.

Deindividuation

A psychological state characterized by reduced self-awareness and diminished social identity, often leading to disinhibited and impulsive behavior.