Kevin Received Unsecured Financing from a Bank for His Plumbing

question 51

Multiple Choice

Kevin received unsecured financing from a bank for his plumbing business. This means that Kevin did NOT have to provide the bank with which of the following?

• A) reasons for the loan
• B) application forms
• C) collateral
• D) credit reports

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Definitions:

Developed

The state or process of having been advanced or brought to a higher level of complexity, efficiency, or quality.

Accurate Predictions

Forecasts or expectations that closely match the actual outcomes or events.

Abilities

The natural or acquired skills and talents that enable individuals to perform tasks or engage in specific activities.

Validity

The extent to which a test or instrument measures what it is supposed to measure, often considered in terms of content, criterion-related, and construct validity.