Property Promised to the Lender as Compensation If the Borrower

question 74

Multiple Choice

Property promised to the lender as compensation if the borrower defaults is called

• A)collateral.
• B)deductibles.
• C)restrictive covenants.
• D)contingencies.

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Definitions:

Decision-making Innovations

New methods or processes improving the way decisions are made, often leading to more efficient or effective outcomes.

Industrialized Countries

Nations that have highly developed industries and infrastructure, offering a high standard of living and technological advancement.

Early 1970s

A period marked by significant cultural, political, and technological changes worldwide, roughly spanning from 1970 to 1974.

Polarization Between Jobs

The growing divide in job quality and security, often leading to high-wage, highly skilled jobs at one extreme and low-wage, insecure jobs at the other.