Credit Quizzes-A subprime loan:

Answer to Quiz

A subprime loan:

Answer: (c)
A "subprime loan" is a loan made to subprime borrowers (a borrower whose credit rating is lower than a typical qualified buyer). Subprime loans tend to have higher interest rates and/or more onerous terms than a loan to a creditworthy borrower.

Next Quiz:

The federal agency that protects consumers' rights when applying for credit is:

(a) FCRA
(b) FDIC
(c) RHLMC
(d) OCC

Word of the Day

Chastity Bond

A "chastity bond" is a bond that becomes immediately due and payable up on the...

Chastity Bond

Newsletter