For an Open-Ended Credit Account a Credit Limits Is Set

question 106

True/False

For an open-ended credit account a credit limits is set by the lender and represents the maximum outstanding debt allowed on the account.

---

Definitions:

Systematic Desensitization

A behavioral therapy technique used to reduce phobias through gradual exposure to the feared object or situation paired with relaxation techniques.

Person-Centered Therapy

A therapeutic approach founded by Carl Rogers that emphasizes an individual's self-worth and values being at the center of the therapy process.

Cognitive Consistency

A psychological theory that suggests individuals are motivated to maintain consistency between their beliefs, attitudes, and behaviors to reduce mental discomfort or dissonance.

Systematic Desensitization

A behavioral therapy technique used to reduce fear, anxiety, or aversions through gradual exposure to the feared object or situation combined with relaxation exercises.