Debt That Is "Backed" by a Mortgage, a Pledge of Collateral

question 122

Multiple Choice

Debt that is "backed" by a mortgage, a pledge of collateral, or another lien is called which of the following?

• A) Real debt
• B) Liable debt
• C) Credited debt
• D) Secured debt

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Definitions:

Poverty Trap

An economic condition in which it is difficult for an individual to obtain enough capital and/or credit to escape poverty; it causes poverty to persist and is also called the “cycle of poverty”.

Public Services

Essential services provided by the government to its citizens, such as healthcare, education, and transportation.

Turnover

The total sales of a business in a certain period, or the rate at which employees leave a company and are replaced.

Absenteeism

The habitual non-presence of an employee at their job, often without good reason.