Question

Erin works at a financial institution. She has offered a housing loan to a customer. While carrying out the transaction, which legal responsibility should she address?
A.
arrange an informal meeting with the customer
B.
organize a success party for the department
C.
disclose all confidential information about the organization to the customer
D.
ensure that she credits the loan amount accurately to the customer’s account
E.
show the customer a list of people who defaulted on similar loans

Answer 1

Answer:

D. ensure that she credits the loan amount accurately to the customer’s account

Explanation:

Erin needs to address this legal responsibility, and "arranging an informal meeting with the customer" is not a legal responsibility. Similarly, C is not a legal responsibility, and in fact, it is a crime. And E is not a legal responsibility. These details are not being given at the time of sanctioning the loan. However, D is certainly a legal responsibility as Erin needs to ensure that she credits the loan amount accurately to the customer's account.