John Buys a New Car with the Help of a Loan

question 58

Multiple Choice

John buys a new car with the help of a loan. He permits the creditor to take possession of the car if he cannot repay the loan in time. Here, the car is the ________.

• A) after-acquired property
• B) collateral
• C) intangible personal property
• D) floating lien

---

Definitions:

Central Route

A term from the Elaboration Likelihood Model of persuasion that describes a cognitive processing path where individuals are persuaded by the content of the message itself, through thoughtful and critical analysis of its arguments.

Mental Shortcuts

Cognitive strategies, also known as heuristics, used by individuals to simplify decision making by reducing complex problem solving.

Primary Research

Primary Research involves the collection of original data directly from sources or subjects through methods like surveys, interviews, and observations.

Secondary Research

Refers to the process of collecting, analyzing, and interpreting existing data and information that has already been gathered by others, often for a different purpose.