When Evaluating Your Credit Application,a Lender May NOT

question 123

Multiple Choice

When evaluating your credit application,a lender may NOT

• A) Ask your date of birth.
• B) Deny you credit if you receive public assistance.
• C) Request a list of the ages of your dependents.
• D) Inquire if you ever received credit before from that lender.
• E) Ask the income of your spouse if you have a joint application.

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Definitions:

Period Of Time

A duration in which activities, processes, or conditions exist or take place.

Accounts Receivable

Financial dues owed by patrons to an enterprise for products or services consumed but not yet compensated.

Asset

A resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Liability

Obligations or debts that a company owes to others, which must be settled over time through the transfer of assets, provision of services, or other value.