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Hf Home Ownership Education Mod1

7 Questions
Hf Home Ownership Education Mod1

Please complete the Home Ownership Education Questionnaire - Module 1.

Questions and Answers
  • 1. 
    You have the legal right to have the bank explain all the terms and conditions to you.
    • A. 

      True

    • B. 

      False

  • 2. 
    The National Credit Act enables you to loan money even if you cannot repay it.
    • A. 

      True

    • B. 

      False

  • 3. 
    Which of the following is not correct?
    • A. 

      I am entitled to receive information in my own language

    • B. 

      I am entitled to know why my application for credit was refused

    • C. 

      I am not allowed to challenge information

    • D. 

      Information needs to be clear and understandable in plain terminology

  • 4. 
    What kind of loan does the bank offer in order for you to purchase your home?
    • A. 

      A home loan

    • B. 

      A student loan

    • C. 

      A credit card account

  • 5. 
    If you give incorrect, wrong or incomplete information to the bank and the bank grants you a home loan which you later cannot afford to repay, will you then be afforded the protection of the National Credit Act?
    • A. 

      True

    • B. 

      False

  • 6. 
    Banks earn income from the interest and fees they charge.
    • A. 

      True

    • B. 

      False

  • 7. 
    Which Act aims to restrict unwanted direct marketing and also emphasize consumer's right to a cooling off period after direct marketing?  This Act is a consolidation of all existing consumer protection laws.
    • A. 

      NCA - National Credit Act

    • B. 

      Competition Act

    • C. 

      CPA - Consumer Protection Act