Predictors of Problems Are Called

question 106

Multiple Choice

Predictors of problems are called

• A)precursors.
• B)red flags.
• C)risk factors.
• D)indicators.

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Definitions:

Cosign

To sign jointly with another or others, especially in agreeing to be responsible for a loan if the primary borrower defaults.

Minor

A person who is under the legal age of majority, and therefore has limited legal rights and responsibilities.

Secured Credit

A loan or credit extended where the borrower pledges an asset as collateral to guarantee repayment.

Unsecured Credit

A type of credit that is not backed by collateral, meaning the lender relies on the borrower's creditworthiness rather than security in case of default.