When You Hypothecate an Asset It Means That You as a Borrower

question 10

Multiple Choice

When you hypothecate an asset it means that you as a borrower have:

• A) signed a promissory note
• B) given a deed in lieu of foreclosure
• C) pledged an asset as collateral without giving up it use
• D) assigned their debt to another while retaining liability

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Definitions:

Price Labor

The cost associated with hiring workers or the wage that employers pay to their employees for their labor.

ATMs

Automated Teller Machines, devices that allow bank customers to perform financial transactions without the need for a branch representative.

Bank Tellers

Employees of a bank who deal directly with customers, handling transactions, cash checks, accept deposits, and provide account information.

Bank Branches

Physical locations of a bank where customers can perform various financial transactions, such as deposits, withdrawals, loan applications, and account inquiries.