Which of the Following Statements Is True for Unsecured Credit

question 30

Multiple Choice

Which of the following statements is true for unsecured credit?

• A) Only consumers use unsecured credit for their personal transactions.
• B) The creditor may require the debtor to convey to the creditor a lien on the debtor's property.
• C) When goods are delivered on unsecured credit, the creditor retains all rights in the goods.
• D) The unsecured credit transaction involves maximum risk to the creditor.

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Definitions:

Sense of Competence

The feeling or belief in one's own ability to accomplish tasks and handle situations effectively, contributing to self-confidence and well-being.

Flexible Working Hours

An employment structure that allows employees to choose their working hours within agreed limits, promoting work-life balance and often increasing job satisfaction.

Empty Nest

A phase in a parent's life where their children have grown up and left home, often leading to changes in the parents' lifestyle and emotional state.

Romantic Couples

Pairs of individuals who engage in a romantic relationship characterized by emotional and often physical intimacy.