MENU
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?
Suggested Answer: D
Get Premium CRCM Questions
as Interactive Web-Based Practice Test or PDF
Real Exam Format
Detailed Explanations
Instant Access
Get Your Practice Test
32 comments · newest first
MU
Muriel
10 months ago
I doubt they can use age for any of them. Sounds sketchy!
JA
Janey
11 months ago
Definitely just Mr. Williams. The others are too young.
AN
An
11 months ago
Wait, can they really consider age? Seems kinda unfair.
DO
Dominque
11 months ago
I think age matters for all of them, especially with loans.
RO
Rosalyn
11 months ago
Only Mr. Williams, right? He's the only one over 18.
LA
Lavonna
12 months ago
I’m torn between Mr. Williams and Ms. Smith. I feel like Ms. Smith’s age could be a concern for the car loan, but I’m not confident.
OC
Octavio
12 months ago
I practiced a similar question, and I think only Mr. Williams should be considered because of his retirement status.
ES
Essie
12 months ago
I’m not sure, but I feel like age is definitely a consideration for Mr. Williams since he’s retired.
TO
Tonette
1 year ago
I think age might be a factor for all of them, but I remember something about how it affects loans differently.
HA
Harris
1 year ago
Okay, let me walk through this step-by-step. The car loan and home improvement loan are longer-term, so Bob can probably consider the applicant's age. But the stock loan is only for 1 year, so age may not be as relevant there. I think the answer is D, but I'll review my work one more time to be sure.
TH
Therese
1 year ago
I think I've got this one. For the car loan and home improvement loan, Bob can likely consider the applicant's age as part of the decision-making process. But for the stock loan, age probably isn't a relevant factor. I'll double-check my reasoning, but I'm feeling pretty confident about this.
LI
Lizette
1 year ago
Hmm, I'm a bit confused on this one. I know age can be a factor in some lending decisions, but I'm not sure which of these specific loan types would allow that. I'll have to read through the details carefully.
BR
Brandon
1 year ago
Okay, let's see. The question says Bob's bank uses a judgmental credit evaluation system, so age may be a factor. I'll need to think through the different loan types and how age might impact the decisions.
OL
Olive
1 year ago
This seems like a tricky question. I'll need to carefully consider the details about each applicant's age and loan type to determine which ones Bob can use age as a factor.
RY
Ryan
1 year ago
I heard Bob's bank has a special 'mid-life crisis' loan for the John Bakos of the world. Better approve that stock loan quick, John!
JE
Jeannetta
1 year ago
I hope Bob approves my loan application soon!
RI
Rikki
1 year ago
C) Only Mr. Williams
SH
Shaniqua
1 year ago
A) All of them
NA
Na
1 year ago
Age as a factor? I guess Bob's bank thinks 'the older, the wiser' when it comes to home improvement loans. C is the answer.
AL
Alisha
1 year ago
Hmm, a stock loan for $15,000? John Bako must be feeling pretty lucky. Anyway, the answer is C, only Mr. Williams.
AL
Alyce
1 year ago
Wait, a 17-year-old getting a car loan? That's like giving a toddler the keys to a Ferrari. But I digress, the correct answer is C.
WA
Walker
1 year ago
That makes sense, since he is older and recently retired.
RU
Ruby
1 year ago
I think the correct answer is C, only Mr. Williams' age can be considered in the decision making process.
LE
Leota
1 year ago
Yeah, it does seem a bit young to be taking on that kind of financial responsibility.
JA
Jamal
1 year ago
I agree, giving a 17-year-old a car loan seems risky.
DA
Daryl
1 year ago
I think the answer is C. Only Mr. Williams, since he's retired and age may be a factor in the home improvement loan decision.
VI
Vi
1 year ago
C) Only Mr. Williams
ZA
Zana
1 year ago
B) None of them
VA
Van
1 year ago
A) All of them
ME
Melodie
2 years ago
But what about Ms. Smith's car loan? Shouldn't age be a factor for her too?
FA
Farrah
2 years ago
I agree with Floyd, because for long-term loans like home improvement, age can be a factor in the decision.
FL
Floyd
2 years ago
I think Bob can consider the age of Mr. Williams for the home improvement loan.