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Which of the following is an example of closed-end credit? Select one: a. Unsecured personal loan b. Bank issued credit card c. Department store credit

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Which of the following is an example of closed-end credit? Select one: a. Unsecured personal loan b. Bank issued credit card c. Department store credit card O d. Revolving lines of credit Which of the following is not a consequence of bankruptcy? Select one: a. Cannot travel overseas except only with the permission of the trustee. O b. Can still gain employment, but will receive reduced superannuation contributions. c. Severe restrictions are placed on future borrowing capacity. O d. Being barred from being corporate directors. Which of the following is true with regards as to how unsecured loans are different from secured loans? Select one: a. Secured loans offer protection for the lender for only the principal loan amount, while unsecured loans do not have protection for the lender on the principal loan amount. b. Secured loans offer protection to the lender with a link to a tangible asset of the borrower whereas unsecured loans do not c. Secured loans are offered at higher interest rates than unsecured loans. d. Unsecured loans offer more tangible assets as a secondary source of repayment compared to secured loans

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