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Free CRCM Exam Braindumps (page: 108)

Page 107 of 344
PDF with 463 Questions

Bob Richardson has had three loan applicants this morning:
· Heather Smith, age 17, who needs a car loan for $9,500 for 3 years · John Bako, age 42, who would like a stock loan for $15,000 for 1 year · Maynard Williams, age 70, recently retired, who needs a $50,000 home improvement loan for 12 years
Bob's bank uses a judgmental credit evaluation system. For which of these applications is Bob able to consider the age of the applicant as a factor in the decision making process?

  1. All of them
  2. None of them
  3. Only Mr. Williams
  4. Mr. Williams and Ms. Smith

Answer(s): D



What may a creditor do if an applicant applies for individual unsecured credit?

  1. A creditor may never require the signature of another person.
  2. A creditor may ask for the signature of the applicant's spouse if the applicant is not creditworthy.
  3. A creditor may require another signature if the applicant relies on jointly owned property to establish creditworthiness.
  4. A creditor may ask the applicant to withdraw the application if it does not meet the creditor's credit standards.

Answer(s): C



What may a creditor do if an applicant applies for individual unsecured credit?

  1. A creditor may never require the signature of another person.
  2. A creditor may ask for the signature of the applicant's spouse if the applicant is not creditworthy.
  3. A creditor may require another signature if the applicant relies on jointly owned property to establish creditworthiness.
  4. A creditor may ask the applicant to withdraw the application if it does not meet the creditor's credit standards.

Answer(s): C



What may a creditor do if an applicant applies for individual unsecured credit?

  1. A creditor may never require the signature of another person.
  2. A creditor may ask for the signature of the applicant's spouse if the applicant is not creditworthy.
  3. A creditor may require another signature if the applicant relies on jointly owned property to establish creditworthiness.
  4. A creditor may ask the applicant to withdraw the application if it does not meet the creditor's credit standards.

Answer(s): C






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