a. Briefly describe each of the following general credit risks pertaining to consumers that banks have to consider and provide examples for each of these risks:

i.Guarantees furnished by consumers. (1 mark)

ii.The effect of a borrower's age, death or disability on a loan. (1 mark)

iii.Future income. (1 mark)

b. Briefly describe each of the following specific credit risks pertaining to partnership that banks have to consider and provide examples for each of these risks:

i.Financial statements. (1 mark)

ii.Continuity. (1 mark)