Statement I: Credit men works better if they cooperate with other credit men for more information and collaborative course of action.

Statement II: Top management treats the Credit Department not only as a profit center but as a cost center as well. *

a. Only Statement I is true.

b. Only Statement II is true.

c. Both Statements are true.

d. Both Statements are false.

2. Mr. Andres decided to buy a new 2022 Mitsubishi Xpander GLS Limited Edition Black Series and applied for an auto loan with his bank. What type of credit transaction is this?

a. Commercial Loan

b. Consumer Loan

c. Industrial Loan

d. Long term Loan

3. Mr. Santos owns MRS Lending Corporation a business that extend credit lines to micro- and small-to-medium enterprises. Because of the positive economic outlook after the pandemic, Mr. Santos projects that he will need additional funding to support the growing businesses of his clients such as that of Mr. Garcia and Mr. Francisco. Mr. Santos then reaches out to ADR Bank to apply for a loan line for his revolving capital. Who are the creditors in this scenario? *

a. Mr. Santos

b. Mr. Garcia

c. Mr. Francisco

d. MRS Lending Corporation