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Which of the following would probably not be required when applying for a personal loan?

A) A personal r^e sum^e
B) A personal balance sheet
C) A personal cash flow statement
D) A loan application

User Mekswoll
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1 Answer

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Final answer:

A personal résumé is typically not required when applying for a personal loan because it gives employment history rather than financial information that banks need to assess a borrower's ability to repay.

Step-by-step explanation:

When applying for a personal loan, the most likely documents required by a bank would include a loan application, proof of income, a credit history check, and possibly a request for collateral or a cosigner. However, a personal résumé is typically not required. This is because a résumé would provide information on employment history and qualifications, which are not directly relevant to one's financial status or ability to repay a loan. Instead, banks are more interested in financial documents like a personal balance sheet or cash flow statement that provide direct insight into the borrower's financial health.

User Mark Byers
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