Which Federal Law Requires Creditors to Inform Applicants of Acceptance

question 154

Multiple Choice

Which federal law requires creditors to inform applicants of acceptance or rejection of their credit application within 30 days of receiving a completed application?

• A) Truth in Lending Act
• B) Fair Credit Reporting Act
• C) Fair Credit Billing Act
• D) Equal Credit Opportunity Act
• E) Fair Debt Collection Practices Act

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Definitions:

Sample

A selected portion of a population used in statistical analysis, chosen to represent the whole population in studies or experiments.

Dependent-Samples T Test

A statistical procedure used to compare the means of two related groups to find out if there is a significant difference between them.

Repeated Measures

Refers to experiments or tests in which the same subjects are tested under multiple conditions or at multiple time points.

Dependent-Samples T Test

A statistical test used to compare the means of two related groups or conditions to determine if there are statistically significant differences between them.