Which of the following is not an example of a backup line of credit?

Question

Quizplus · Accepted Answer

Mortgages are not typically considered backup lines of credit. They are typically used to secure a specific loan, rather than serving as a backup source of funding. Loan commitments, overdraft privileges, and standby letters of credit are all examples of backup lines of credit, as they provide access to additional funds in case of unexpected expenses or cash flow issues.

Which of the Following Is Not an Example of a Backup