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Question 1 of 6

1. Question
A mortgage applicant provides financial information during a loan interview. The underwriter asks how many dependents live in the household and requests information regarding monthly child-care expenses and other dependent-related obligations.

Which statement best reflects ECOA requirements?
- A) Creditors may never ask about dependents or dependent-related expenses
- B) Creditors may ask the number and ages of dependents and about dependent-related financial obligations or expenditures
- C) Questions regarding dependents are permitted only for FHA-insured loans
- D) Creditors may ask about dependents only after issuing a loan approval
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Question 2 of 6

2. Question
A loan officer requests information about alimony and child support income during a mortgage application interview. However, the officer fails to advise the borrower that disclosure of such income is optional if the applicant does not want it considered for qualification purposes.

Which ECOA requirement applies?
- A) Applicants must always disclose all support-related income sources
- B) Creditors may request support income only through written applications
- C) Before requesting income from alimony, child support, or separate maintenance, the applicant must be informed that disclosure is optional
- D) Child support income may never be considered when evaluating creditworthiness
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Question 3 of 6

3. Question
A creditor processing a mortgage application secured by real property asks the applicant to identify marital status. The application form provides the options single, married, divorced, and widowed.

During a compliance examination, regulators determine the form violates Regulation B.

Which statement best reflects ECOA marital-status requirements?
- A) Creditors may request marital status only for unsecured loans
- B) Creditors may use any marital-status terminology if disclosed in writing
- C) For secured loans, only the terms married, unmarried, or separated may be used
- D) Marital status may never be requested during a mortgage application
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Question 4 of 6

4. Question
During a mortgage interview, a loan officer asks the borrower, Have you ever been divorced? before discussing loan qualification requirements.

Which statement best reflects ECOA guidance?
- A) Questions regarding divorce history should not be asked during the application process
- B) Creditors must verify all prior marriages before approving mortgage credit
- C) Divorce-related questions are required for government-insured loans
- D) Creditors may ask about divorce history if the borrower appears uncertain about marital status
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Question 5 of 6

5. Question
A borrower applies individually for a mortgage loan and does not rely on the spouse’s income or assets for qualification. The property is not located in a community property state, and the spouse will not be contractually liable on the loan.

Under ECOA, which statement is correct?
- A) The creditor may freely request financial information regarding the spouse
- B) The creditor may require the spouse to co-sign the application regardless of qualification needs
- C) Spousal financial information is always required for mortgage applications
- D) Questions regarding the spouse generally should not be asked unless a permitted exception applies
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Question 6 of 6

6. Question
A married borrower applies for a mortgage loan and intends to rely on the spouse’s income to qualify for the requested loan amount.

Under ECOA, which action is permissible for the creditor?
- A) Refuse to consider the spouse's income under all circumstances
- B) Require the spouse to become a co-borrower regardless of qualification needs
- C) Ignore all spousal income when evaluating repayment ability
- D) Request information regarding the spouse because the applicant is relying on the spouse's income to qualify
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