I have 5 questions over Fast Cash and Payday Loans

1.In the United States, the authority to cap the interest rate for payday loans

a.has been given to the federal government

b.is given to individual states

c.is part of the Truth In Lending Act

d.was assigned to the CFPB in 2011

2.Scott is a 15-year-old student who works at a part-time job and gets paid every two weeks. His paycheck goes directly to his prepaid debit card. Due to some unexpected expenses, Scott is applying for a payday loan. After visiting the storefront payday lender, Scott was denied the loan because he

a.did not have a full-time job

b.needed to set up a checking account

c.was not old enough to qualify

d.could not furnish a copy of his last tax return

3.Payday loans have ___________ repayment terms and _________ APRs than traditional loans and other mainstream forms of credit such as credit cards.

a.longer; higher

b.longer; lower

c.shorter; higher

d.similar; lower

4.In 2017, the number of payday lenders in the United States was _______________ the number of McDonald's locations and ____________________ the number of Starbucks locations.

a.slightly less than; about the same as

b.greater than; about the same as

c.greater than, greater than

d.less than; greater than

5.A payday loan is called a "payday" loan because it

a.comes due on the borrower's next pay day

b.is "payday" for the lender

c.always comes due 2 weeks after the loan is made

d.always comes due at the end of the month