Which of the Following Might Lead a Consumer to Seek

question 21

Multiple Choice

Which of the following might lead a consumer to seek a loan from a subprime lender?

• A)Inability to document their income.
• B)Have previously filed for bankruptcy.
• C)Has never had a loan before.
• D)Lack of savings for a down payment.
• E)All of the options.

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Definitions:

Gift

The voluntary and gratuitous transfer of property or funds from one person to another without any expectation of receiving something in return.

Lost Property

Items that have been unintentionally left by their owner at a location they do not remember.

Negotiable Electronic Document

Electronic records that can be transferred from one party to another, assuming certain legal rights and obligations akin to a traditional paper document.

Voluntary Transfer

The intentional conveyance of property rights or titles from one party to another without coercion.