1. What is the difference between loan volume and loans outstanding? 2. What is the difference between closed-end and open-end loans? Referring to exhibits 2.1 and 2.3, what has been the trend for 3. What is the difference between direct and indirect lending? What are SELF-CHECK AND REVIEW Why are these numbers important? closed-end and open-end loans over time? some examples of each? 4. What are the most important factors determining the position of a product in the product life cycle? 5. What are the five stages in the consumer financial needs life cycle? Which products are most appropriate for each stage? 6. What advantages and disadvantages do commercial banks have in the consumer lending market? 7. Why do captive finance companies offer credit to their customers? 8. According to the fair lending laws, which type of discrimination is each of the following? a. a bank loan policy that unsecured credit is not to be extended to single women because they generally have only one source of income b. a policy that loans will not be made below a certain amount, when there is no objective business reason for that policy c. a statement by a loan officer to a disabled applicant that the bank does not like to make construction loans to persons with physical handicaps d. quotation of more favorable conditions for a loan for a Caucasian male than an African-American male with the same credit rating 9. What are some examples of accommodations for customers with disabilities under the Americans with Disabilities Act? 10. What are the elements of an abusive practice by a financial institution