Someone who is applying for a loan from a bank can expect the bank to:A.request proof that the person has graduated from a good college.B.investigate the person's parents to see if they were financially responsible.C.demand that the person close all of his or her accounts at competing banks.D.check the person's credit history to make sure he or she pays debts on time.

Which action would a bank most likely take when deciding whether a person should be approved for a loan?A.Requiring the person to take a written test about financial conceptsB.Forcing the person to shut down all other bank accountsC.Checking bank statements to see how much money the person has savedD.Investigating the person's grades in high school and college

Which of the following pieces of information would you NOT expect a potential credit customer to provide in a credit application form?Group of answer choicesA list of other debtsThe name of their bankThe name of their spouse and their spouse's personal bank account detailsA list of assets

Customers with low credit scores who apply for credit are most likely to be rejected because:A.they are applying for credit for the first time and have no history of borrowing money.B.they refuse to pay application fees to demonstrate their high level of income.C.they have agreed that they will not file for bankruptcy if their debts are too high.D.they are considered unlikely to pay back borrowed money in a timely manner.

Banks use debt-to-income ratios in order to:A.decide whether they need to look at a borrower's credit history before making a loan.B.see how much money a borrower earns compared to how much he or she has borrowed.C.analyze the value of a borrower's home and cars to be used as collateral for a loan.D.see how often a borrower has missed payments on other loans in the past.

Typically, notification of the amount of federal loans for which a student is eligible each year is found:A.in the student's financial aid application.B.in the student's award letter.C.on the student's high school transcript.D.on the loan confirmation form.