In Evaluating Your Credit Application, a Lender May

question 176

Multiple Choice

In evaluating your credit application, a lender may:

• A) ask your age.
• B) want to know if you are on public assistance.
• C) require your marriage certificate.
• D) ask if you are married or divorced.
• E) ask your race and nationality.

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Definitions:

Gains

Increases in economic benefits, such as profits, revenue, or utility.

Losses

Negative financial results from business operations, where expenses exceed revenues.

Contextual Information

Relevant background details or circumstances that help in understanding the full scope of a situation.

Behavioral Economists

Experts who study the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions.