Podcast
Questions and Answers
Short-term credit has a maturity period of over five years.
Short-term credit has a maturity period of over five years.
False
Consumer Credit is granted to individuals by banks and businesses to purchase personal items.
Consumer Credit is granted to individuals by banks and businesses to purchase personal items.
True
Medium-term credit has a maturity period of one to three years.
Medium-term credit has a maturity period of one to three years.
False
Industrial Credit is used to finance the construction of factory buildings.
Industrial Credit is used to finance the construction of factory buildings.
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Commercial Credit is mainly used for personal expenses like groceries and gadgets.
Commercial Credit is mainly used for personal expenses like groceries and gadgets.
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Banks are not involved in simplifying the lending and borrowing process.
Banks are not involved in simplifying the lending and borrowing process.
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Credit Unions do not facilitate lending and borrowing of funds to provide financial assistance to its members.
Credit Unions do not facilitate lending and borrowing of funds to provide financial assistance to its members.
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Non-Banking Finance Companies provide loans to clients at a very low rate of interest.
Non-Banking Finance Companies provide loans to clients at a very low rate of interest.
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Lending Investors do not provide loans in exchange for interest payments.
Lending Investors do not provide loans in exchange for interest payments.
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Pawnshops do not provide secured loans to individuals in exchange for valuable items as collateral.
Pawnshops do not provide secured loans to individuals in exchange for valuable items as collateral.
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