Kevin received unsecured financing from a bank for his plumbing business. This means that Kevin did not have to provide the bank with any
A) application forms.
B) collateral.
C) reasons for the loan.
D) promise to pay interest.
E) scheduled monthly payments.

Question

Quizplus · Accepted Answer

Unsecured financing means that the borrower does not have to provide the bank with any collateral. Therefore, choice B is the correct answer. The other choices are not relevant to the concept of unsecured financing.

Kevin Received Unsecured Financing from a Bank for His Plumbing