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Loans & Lending Practices MCQs

What is an unsecured loan?

An automobile loan

A loan where the debtor's credit is the only thing at stake

A loan only for uneducated people

A loan with no collateral; the lender has no assets backing the loan

Answer

Correct Answer: A loan with no collateral; the lender has no assets backing the loan

Explanation:

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More Loans & Lending Practices MCQ Questions

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