Business and Consumer Loans Analysis

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AdaptiveSweetPea
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14 Questions

What is the main purpose of a consumer loan?

What is the main purpose of a business loan?

What is collateral in the context of loans?

In which loan type, both consumer and business loans, might require a collateral?

What is the term of the loan?

Which type of loan is specifically for personal or family purposes?

Which of the following is a requirement for a consumer loan?

What is typically used as collateral for both consumer and business loans?

What type of loan typically has a higher interest rate?

In which scenario is a business loan being sought?

Which type of loan requires the lendee to submit a credit report and income tax returns?

What is the term for the method of paying a loan (principal and interest) on installment basis?

What is defined as assets used to secure the loan?

What is a mortgage on a movable property called?

Description

This quiz examines examples of business and consumer loans, specifically focusing on scenarios involving starting a small cafeteria and college tuition. It involves analyzing borrowing money from the bank for business ventures and personal expenses.

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