Collateral

Collateral

12th Grade

5 Qs

quiz-placeholder

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Collateral

Collateral

Assessment

Quiz

Business

12th Grade

Practice Problem

Easy

Created by

Carim Ramirez

Used 30+ times

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A thing that is borrowed, especially a sum of money that is expected to be paid back with interest.

Loan
Credit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Another word for credit is a loan

TRUE
FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A loan in which the borrower pledges some asset

Unsecured Loan
Secure Loan

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is not protected by any collateral. If you default on the loan, the lender can't automatically take your property.

Unsecured Loan
Secure Loan

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

refers to asset the borrower has that could be taken by the lender if the borrower fails to repay.

Condition
Character
Capacity
Collateral

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