A characteristic of consumer loans is that they
A)include a negotiated contract.
B)are arrived at through a formal process.
C)include a repayment schedule.
D)are used to purchase big-ticket durable goods and other items.
E)are all of these.

Question

Quizplus · Accepted Answer

Consumer loans typically involve a negotiated contract between the borrower and the lender, involve a formal process of application and approval, come with a repayment schedule outlining the terms of repayment, and are commonly used to purchase big-ticket durable goods and other items. Therefore, all of these characteristics are true, making option E the best choice.

A Characteristic of Consumer Loans Is That They