The Add-On Clause on a Consumer Loan

question 64

Multiple Choice

The add-on clause on a consumer loan

• A)allows you to add on additional loans at the existing rate on your current loans.
• B)allows the creditor to add on additional interest when the market rate of interest rises.
• C)allows the lender to repossess all goods purchased with the original loan even though your total payments may have been enough to cover an earlier purchase.
• D)allows you to extend the term of the loan by adding on additional installments.

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Definitions:

Socialization

The process by which individuals learn and internalize the values, beliefs, and norms of their society or social group.

Gender Expectations

The societal norms dictating the behaviors that are considered acceptable, appropriate, or desirable for individuals based on their perceived sex or gender.

Gender Gap

The disparity between genders in various aspects of life, including but not limited to employment, income, political representation, and education.

Wage Inequality

Refers to the disparities in income earned by different individuals or groups in an economy, often due to factors such as occupation, education, and experience, as well as discrimination based on gender, race, or age.