Which One of the Following Would Not Typically Be Closed-End

question 132

Multiple Choice

Which one of the following would not typically be closed-end credit?

• A) Home mortgage
• B) Installment loan to purchase new furniture
• C) Line of credit from your bank
• D) Automobile loan
• E) Single lump-sum credit loan due in 90 days

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Definitions:

Fallacy Of Composition

The erroneous reasoning that what is true of the parts must also be true of the whole.

Fallacy Of Division

A logical fallacy that occurs when one assumes that something true of a whole must also be true of its parts.

Hasty Generalization

A logical fallacy where a conclusion is drawn from insufficient evidence or sample size.

Slippery Slope Fallacy

A logical fallacy suggesting that a relatively small first step will lead to a chain of related events culminating in some significant effect, often negative, without adequate evidence to support that outcome.