A Security Interest in a Loan Is Said to Be

question 37

Multiple Choice

A security interest in a loan is said to be perfected if the:

• A) bank holds the collateral.
• B) loan has no protective covenants.
• C) borrower is a low credit risk.
• D) government guarantees the loan.
• E) bank has never lent to the customer before.

---

Definitions:

Social Entrepreneur

An individual who establishes an enterprise with the goal of solving social problems or effecting social change through innovative solutions.

Nonprofit Sector

A segment of an economy consisting of organizations that operate primarily to achieve social, cultural, or environmental objectives, without a primary focus on generating profits for owners or shareholders.

Social Innovation

The process of developing and implementing effective solutions to challenging and often systemic social and environmental issues in support of social progress.

Society's Limited Resources

The concept that resources such as time, money, and raw materials are finite and must be allocated wisely to meet the needs and wants of a society.