When lenders use the term "debt-income ratio," they are referring to:
A: A requirement of the federal government;
B: A loan qualifying tool;
C: A formula used in appraising the property;
D: Part of the closing costs.
Answer: B: A loan qualifying tool;
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Kimmy owns a small scrapbooking store in her community. She sells paper, glue, and other scrapbooking items. She decides one day to lower her prices a little bit because she wants to boost sales and market share so that she can take a vacation. She currently has a 12% market share. Under the Sherman Act, this likely:
a. is a violation of Section 1 because she is attempting to reduce competition. b. is a violation of Section 3 of the Clayton Act because she is attempting to exclude competitors. c. is not a violation of U.S. antitrust laws. d. is a violation of Section 2 because she is intentionally attempting to drive her competitors out of business.
Which of the following spurred the use of debit cards by eliminating the requirement for merchants to issue receipts for debit purchases of $15 or less?
A) Federal Deposit Insurance Act B) Bank Service Company Act C) U.S. Electronic Funds Transfer Act D) Bank Protection Act