An Unsecured Credit Transaction Involves the Lowest Risk to the Creditor

question 82

True/False

An unsecured credit transaction involves the lowest risk to the creditor.

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Definitions:

Smartphone

A smartphone is a mobile device that combines cellular connectivity, computing capabilities, and internet access, along with other functionalities.

MICR Numbers

A line of numbers printed at the bottom of checks using a special magnetic ink; includes bank routing number, account number, and check number, used for electronic processing.

Routing Number

A nine-digit code used in the United States to identify a financial institution in a transaction.

Nine-Digit

Typically referring to a sequence of nine numbers, often used for identification purposes, such as a Social Security number in the United States.