A thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
Collateral
12th Grade
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Collateral
Quiz
•
Business
•
12th Grade
•
Easy
Carim Ramirez
Used 30+ times
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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