A Bank Is Considering Making a Loan to Neville Langdon

question 98

Multiple Choice

A bank is considering making a loan to Neville Langdon.Neville has bounced three checks in the last year and already has $10,000 on a credit card and an automobile loan with a large balance due.What aspect of evaluating a consumer loan application is this fact concerned with?

• A)Character and purpose
• B)Income level
• C)Deposit balance
• D)Employment and residential stability
• E)Pyramiding of debt

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Definitions:

Slave System

An economic and social system based on the ownership, purchase, and forced labor of human beings for the benefit of their owners.

Freed Blacks

African American individuals who were emancipated from slavery, especially during and after the Civil War in the United States.

Runaway Slaves

Enslaved people who escaped from their enslavers in an attempt to gain freedom, often facing great risks and seeking safe haven through networks like the Underground Railroad.

Wilmot Proviso

A proposed amendment to a bill in the U.S. Congress in 1846 aiming to ban slavery in territory acquired from Mexico.