Finsia Practice Test & Exam Prep | Australia

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The responsible lending obligations require a credit assistance provider to take three core steps. Which set correctly describes them?

Advertise the loan, collect a fee, and lodge the application Make reasonable inquiries about the consumer's requirements and objectives, make reasonable inquiries about their financial situation, and take reasonable steps to verify that financial situation Obtain a credit score, order a valuation, and issue a pre-approval Disclose commission, sign a credit guide, and submit to AFCA

Correct Answer:

Make reasonable inquiries about the consumer's requirements and objectives, make reasonable inquiries about their financial situation, and take reasonable steps to verify that financial situation

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