In Ascertaining Whether a Borrower Has the Ability to Pay

question 19

Multiple Choice

In ascertaining whether a borrower has the ability to pay off his loan over time,a mortgage bank may rely on calculating a total debt ratio as part of its underwriting process.Utilizing the following information,calculate the total debt ratio.Principle and interest: $635,Tax and insurance: $125,Car lease: $350,Gross monthly income: $2,500

• A)25.4%
• B)30.4%
• C)44.4%
• D)53.2%

Understand the sociological explanations for the growing need for food banks in wealthy nations such as Canada.

Identify and explain the factors influencing social inequality in Canada.

Critique the concept of meritocracy and explore alternative frameworks for understanding wealth and prestige distribution.

Understand and critique the functionalist Davis-Moore thesis, and explain its limitations with reference to Max Weber's concepts of class, status, and party.

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Definitions:

Introspection

The act of scrutinizing or watching one's own mental and emotional activities.

Behavior Works

Refers to the effectiveness of actions or behaviors in producing desired outcomes or achieving specific goals.

Factual Evaluation

The process of assessing information based on its adherence to facts and accuracy rather than opinions or interpretations.

Random Assignment

In an experimental design, the random placement of participants in either the experimental or control groups, ensuring that the groups are matched at the outset of the experiment.