If You Cosign a Loan

question 31

Multiple Choice

If you cosign a loan,

• A)you are not being asked to guarantee the debt.
• B)it is not your legal responsibility to pay the debt.
• C)you'll have to pay up to the full amount of the debt if the borrower does not pay.
• D)the creditor must first try to collect from the borrower.
• E)the creditor cannot garnish your wages.

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Definitions:

Television

A system for transmitting visual images and sound that are reproduced on screens, primarily used for broadcasting programs for entertainment, news, and education.

Estimated Percent

A calculated approximation, often used in statistics, reflecting the portion or fraction of a whole represented as a percentage.

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The distortion of statistical analysis resulting from the method of collecting samples, leading to non-representative samples that do not reflect the true population.

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Expressing approval or support; advantageous or beneficial in nature.