So-called "payday loans" are targeted primarily at "poor people" O True O False QUESTION 43 Term insurance can be used as collateral for secured lines of credit O True 4 False
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- 6. Open account credit provides a debtor with a predetermined line of credit and a flexible payback period. Which of the following is an example of open account credit? i. Personal Loan ii. Overdraft i. Charge card iv. Education loan A. i and ii B. i,i and ii C. ii and ii D. i,ii,i and ivWhat is a mini-perm or bullet loan? When and why is this type of loan used?What are the 5 Cs of credit that are sometimes used by bankers and others to determine whether a potential loan will be repaid?
- #45 A type of short-term loan where the borrower sells its accounts receivables to the lender at a discount to face value is called: a bond. a compensating balance. a letter of credit. an assignment. factoring.This payment type is essentially a short term loan up to a predetermined amount. O Debit Card O Credit Card O Mobile Payment O Mobile WalletWhich of the following are secured loans? (select all that apply) student loans credit card debt mortgages car loans
- The two types of personal loans are installment loans and demand loans. True or falseObtaining a revolving credit line is _____ risky than line of credit where the use of funds is _______. Question 10 options: 1) more, not guaranteed 2) more, guaranteed 3) less, not guaranteed 4) less, guaranteedWhich type of loan is suitable for buying supplies? O a. Single term O b. Long term O C. Medium-term O d. Short term
- 44. Which statement correctly identifies the loan type with its function? O (a) FHA guarantees loans O (b) VA guarantees loans O (c) Fannie Mae insures loans O (d) Ginnie Mae insures loansPlease answer the following questions what are two types of credit what is a security interest who is the debtor and creditor what happens if the debtor defaults what type of transaction requires a financing statementcredit cards O Personal Loans O Consolidated Loans O Home Equity Loans O Student Loans use the borrower's home as a source of collateral so interest rates are considerable lower than
