Which of the Following Is Not an Example of a Consumer

question 37

Multiple Choice

Which of the following is not an example of a consumer loan?

• A) installment loan
• B) convenience credit
• C) revolving credit
• D) line of credit.
• E) bank card credit

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Definitions:

Installment Plans

Payment methods that allow customers to purchase goods by making a series of payments over time.

Repayment Plans

Agreed upon schedules between lenders and borrowers that outline how a debt will be paid back over time, often including interest rates and payment amounts.

Frivolous

Used to describe actions or claims that lack any serious purpose or value, often in a legal context.

Involuntary Bankruptcy

A legal process initiated by creditors seeking to have a debtor declared bankrupt by a court, thus forcing the debtor to liquidate assets to pay off debts.