Collateral Is Something of Value That by Agreement Becomes the Property

question 214

True/False

Collateral is something of value that by agreement becomes the property of the lender if the borrower defaults.

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Definitions:

Behaviorally Anchored Rating Scale

A method of evaluating employees' performance by directly comparing their behaviors with specific examples of behavior that are anchored on a scale.

Behavioral Observation Scale

A performance appraisal method that rates the frequency of specific behaviors exhibited by an employee in the workplace.

Performance Management

A continuous process by which managers and employees work together to plan, monitor, and review an individual's work objectives and overall contribution to the organization.

Biased Source

A source of information that shows prejudice towards one side of an argument or issue, often leading to a lack of impartiality.