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Questions and Answers
Which of the following is true about loans and lines of credit?
Which of the following is true about loans and lines of credit?
- They are ways of earning money from a bank
- They are ways of investing money in a bank
- They are ways of borrowing money from a bank (correct)
- They are ways of saving money in a bank
What should borrowers do before using debt instruments?
What should borrowers do before using debt instruments?
- Ignore the commitments and provisions
- Ask a friend for advice
- Sign the documents without reviewing them
- Carefully read, understand, and abide by the commitments (correct)
Who should borrowers consult if they have concerns about the loan documents?
Who should borrowers consult if they have concerns about the loan documents?
- A professional familiar with loan documents (correct)
- Their bank or financial institution
- No one, they should handle it themselves
- Their friends or family members
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