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The video tutorial discusses the process of approving a loan, focusing on the criteria that need to be met for a loan to be granted.

What is a fundamental requirement for obtaining a loan?

• Having a high school diploma

• Owning a car

• Being employed for over 10 years

• Having a good credit score

Which type of loan is typically used for purchasing a home?

• Student loan

• Mortgage

• Auto loan

• Personal loan

What is a characteristic of a personal loan?

• It can be used for various personal expenses

• It has a fixed interest rate

• It is used exclusively for education

• It is secured by collateral

Which factor can influence the approval of a loan application?

• The applicant's favorite color

• The applicant's credit history

• The applicant's height

• The applicant's shoe size

What is the first step in the loan application process?

• Signing the loan agreement

• Repaying the loan

• Receiving the loan amount

• Submitting a loan application