The Term 'Recourse' Refers to the Ability to Put an Asset

question 14

Multiple Choice

The term 'recourse' refers to the ability to put an asset or loan back to the seller should the:

• A)asset need to be entirely written off
• B)credit quality of that asset improve
• C)buyer not need the asset any longer
• D)credit quality of that asset deteriorate

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Definitions:

Private Insurance

Insurance provided by private entities as opposed to government programs, often covering health, life, or property.

Medical Care

Professional services provided by health practitioners or organizations to prevent, diagnose, and treat health problems and maintain health.

Federal Programs

Government initiatives funded and operated at the national level to provide services or benefits to the public.

Health Insurance

A type of insurance coverage that typically pays for medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured.