A ________ Is an Instrument That Gives a Creditor a Security

question 68

Multiple Choice

A ________ is an instrument that gives a creditor a security interest in the debtor's real property that is pledged as collateral for a loan.

• A) credit report
• B) letter of credit
• C) remittance advice
• D) deed of trust

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Definitions:

Company's Records

Documentation and files maintained by a business for accounting, legal, and operational purposes.

Bank Service Charges

Fees charged by banks for maintaining accounts, processing transactions, and providing other financial services.

Credit Memo

A document issued by a seller to a buyer, reducing the amount that the buyer owes to the seller typically due to a return or a rebate.

Monthly Bank Statement

A document provided by a bank which summarizes all transactions in an account for a specific month.