Multiple Choice
Which of the following would be considered an unacceptable consumer loan?
A) A home improvement loan, secured by a first mortgage
B) A home improvement loan, secured by a second mortgage
C) A $10,000 loan on a new $30,000 boat, secured by the boat
D) A loan on for 80% of the value on a new automobile, secured by the automobile
E) A loan for 95% of the value of used skydiving equipment, secured by the equipment
Correct Answer:
Verified
Correct Answer:
Verified
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