If You Cosign a Loan

question 111

Multiple Choice

If you cosign a loan:

• A)you are only responsible for half of the debt obligation.
• B)you will be asked, but not required, to pay the loan in full if the borrower fails to pay.
• C)you will be required to pay the loan in full if the borrower defaults on the payments.
• D)the creditor must first try to collect from the borrower.
• E)the creditor is prohibited from garnishing your wages if you refuse to pay the loan in full.

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Definitions:

Position Analysis Questionnaire (PAQ)

A standardized questionnaire used to evaluate job characteristics and determine job requirements.

Job Analysts

Professionals who conduct in-depth analysis of job roles and responsibilities to determine employee requirements, performance standards, and the qualifications needed for a job.

Work Process

The sequence of steps or actions taken to accomplish a specific task or objective within a workplace.

KSAOs

Stands for Knowledge, Skills, Abilities, and Other characteristics; a framework used to evaluate an individual's qualifications for a job.