Harry and Rebecca Are Both 63 Years Old and Have

question 19

Multiple Choice

Harry and Rebecca are both 63 years old and have a flourishing business.They decide to purchase a beach house and seek a 15-year mortgage.In this situation:

• A)the mortgage company may deny them credit based on their age and possibility of loss of income at retirement.
• B)the mortgage company may deny them credit based on the Equal Credit Opportunity Act because their application,when compared to more youthful applicants,is not "equal".
• C)the mortgage company cannot deny them credit,based on the Equal Credit Opportunity Act.
• D)the mortgage company is well-within its rights to deny them credit,based on the Equal Credit Opportunity Act,but must do so within 50 days.

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Definitions:

Alliance

A union or association formed for mutual benefit, especially between countries or organizations.

Superego

Part of Sigmund Freud's psychoanalytic theory, representing the ethical component of the personality and providing the moral standards by which the ego operates.

Moral Component

This refers to the aspects of decision-making that involve ethics, values, and principles of right and wrong.

Mediating Agent

An entity or factor that intervenes or facilitates a process or interaction between other entities or phenomena.