Collateral

question 68

Multiple Choice

Collateral

• A) gives the lender additional recourse if the payments are not made.
• B) is used on unsecured loans.
• C) increases the interest rate on loans.
• D) is required on all loans.

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Definitions:

Memorandums

Written messages, especially in business or diplomacy, used to communicate formal information or directives.

Newsletters

Periodic publications distributed to a specific audience to inform, educate, or entertain about recent developments, news, or interests pertaining to a group or organization.

Formal

Characterized by strict or conventional forms and manners in language, appearance, or events.

Letter

A written or printed message, usually of a personal nature, intended to communicate between individuals or organizations.