Solved

Revolving Loans Are Credit Lines

Question 80

Multiple Choice

Revolving loans are credit lines


A) that allow the borrower to borrow the repeat credit only after the first loan is repaid.
B) that specify a maximum size and a maximum period of time over which the borrower can withdraw funds.
C) whose interest rate adjusts with movements in an underlying market index interest rate.
D) on which a borrower can both draw and repay many times over the life of the loan contract.
E) that include new and used automobile loans, mobile home loans, and fixed-term consumer loans.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents