Provisions in Loan Contracts That Proscribe Borrowers from Engaging in Specified

question 61

Multiple Choice

Provisions in loan contracts that proscribe borrowers from engaging in specified risky activities are called ________.

• A) proscription bonds
• B) collateral clauses
• C) restrictive covenants
• D) liens

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Definitions:

Public Assistance

Government programs designed to provide financial aid or services to individuals or families in need, often based on income criteria.

Food Stamps

Government-issued vouchers that can be used to purchase groceries at retail stores, intended to help low-income families afford food.

Poor

Lacking sufficient money to live at a standard considered comfortable or normal in a society.

Female-Headed Households

Households that are led by a female as the primary decision-maker or head of the household.