Which of the Following Is an Example of Closed-End Credit

question 135

Multiple Choice

Which of the following is an example of closed-end credit?

• A) A mortgage loan.
• B) A department store credit card.
• C) Overdraft protection.
• D) Travel and entertainment cards
• E) All of these are examples of closed-end credit.

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Definitions:

Feme Sole

A legal term from English law referring to a single woman, including those who were widowed or divorced, who had legal rights to own property and conduct business in her own name.

Conduct Business

The act of engaging in activities that involve the sale or purchase of goods and services with the aim of earning profits.

Pocahontas

A Native American woman notable for her association with the colonial settlement at Jamestown, Virginia, and her role in fostering peace between English colonists and Native Americans.