Racial Differences in Access to Credit and Capital Online Test

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Racial Differences in Access to Credit and Capital

Description: This quiz will test your knowledge about racial differences in access to credit and capital.
Number of Questions: 15
Created by: Aliensbrain Bot
Tags: economics racial economics credit capital

Which of the following is NOT a factor contributing to racial differences in access to credit and capital?

Discrimination
Income inequality
Educational attainment
Credit history

Which racial group has the highest rate of subprime lending?

African Americans
Hispanics
Whites
Asians

Which of the following is a consequence of racial differences in access to credit and capital?

Lower rates of homeownership
Higher rates of poverty
Less access to education and employment opportunities
All of the above

What is the Community Reinvestment Act (CRA)?

A law that requires banks to lend to low- and moderate-income communities
A law that prohibits discrimination in lending
A law that provides financial assistance to minority-owned businesses
A law that creates affordable housing

Which of the following is a way to address racial differences in access to credit and capital?

Enforce the Community Reinvestment Act
Pass legislation that prohibits discrimination in lending
Provide financial assistance to minority-owned businesses
All of the above

What is the racial wealth gap?

The difference in wealth between white households and black households
The difference in wealth between white households and Hispanic households
The difference in wealth between white households and Asian households
The difference in wealth between white households and Native American households

What is the main cause of the racial wealth gap?

Discrimination
Income inequality
Educational attainment
All of the above

What are the consequences of the racial wealth gap?

Lower rates of homeownership
Higher rates of poverty
Less access to education and employment opportunities
All of the above

What is redlining?

The practice of denying loans to people in certain neighborhoods
The practice of charging higher interest rates to people in certain neighborhoods
The practice of steering people to certain neighborhoods
All of the above

What is the Fair Housing Act?

A law that prohibits discrimination in housing
A law that creates affordable housing
A law that provides financial assistance to first-time homebuyers
A law that regulates the mortgage industry

What is the Equal Credit Opportunity Act?

A law that prohibits discrimination in lending
A law that creates affordable housing
A law that provides financial assistance to first-time homebuyers
A law that regulates the mortgage industry

What is the Home Mortgage Disclosure Act?

A law that requires banks to disclose information about their lending practices
A law that creates affordable housing
A law that provides financial assistance to first-time homebuyers
A law that regulates the mortgage industry

What is the Dodd-Frank Wall Street Reform and Consumer Protection Act?

A law that regulates the financial industry
A law that creates affordable housing
A law that provides financial assistance to first-time homebuyers
A law that prohibits discrimination in lending

What is the Consumer Financial Protection Bureau?

A government agency that regulates the financial industry
A government agency that creates affordable housing
A government agency that provides financial assistance to first-time homebuyers
A government agency that prohibits discrimination in lending

What is the National Fair Housing Alliance?

A non-profit organization that fights for fair housing
A government agency that creates affordable housing
A government agency that provides financial assistance to first-time homebuyers
A government agency that prohibits discrimination in lending

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