A Single-Payment Loan

question 147

Multiple Choice

A single-payment loan:

• A) is generally unsecured and does not have any collateral.
• B) usually matures in one year or less.
• C) usually matures in five to seven years.
• D) is generally used to finance auto purchases.
• E) is provided by sales finance companies.

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Definitions:

Dating

The process whereby two people meet socially for companionship beyond the level of friendship, often with the aim of assessing each other's suitability as a partner in an intimate relationship or marriage.

Divorce

The legal termination of a marriage by a court or other competent body.

Stepfamily

A family where at least one parent has children, from a previous relationship, living in the household.

Sociologists

Professionals engaged in the study of social behaviors, institutions, organizations, and development of human society.