Key Regulatory Differences Between Canada and the United States Generally

question 80

Multiple Choice

Key regulatory differences between Canada and the United States generally ensure that banking is more stable on Canada than on the United States.Which of the following is NOT a key difference between the two systems?

• A) Canada requires higher minimum down payments on mortgages.
• B) Maximum amortization periods are longer in Canada.
• C) Canada requires higher minimum credit scores to obtain a mortgage.
• D) Canada requires lower minimum down payments on mortgages.

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Definitions:

Need

A requirement essential for an organism's survival, growth, and well-being.

Self-actualization

A concept in psychology representing the realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Maslow

Abraham Maslow was an American psychologist who created the hierarchy of needs, a theory in psychology proposing that human actions are motivated by the fulfilment of needs ranging from the most basic physiological to self-actualization.

Belongingness

Belongingness is the human emotional need to be an accepted member of a group, whether it is family, friends, co-workers, or a larger organization.