The most basic responsibility that comes with borrowing money from a bank is:A.paying off the loan as quickly as possible.B.making all required payments on time.C.using the same bank for all future loans.D.recommending other customers to the bank.

People who take a loan from a bank have the responsibility to:A.never take out another loan until the first one is paid off.B.pay the full amount of each monthly payment without being late.C.use the same bank whenever they want to take out another loan.D.spend all of their savings to pay off the loan as quickly as possible.

What is the main role of a bank?Multiple ChoiceServe as an intermediary between savers and borrowersInvest in businessesGive out loans to customersHold money in a safe for customers

The ability of non-ADI lenders to make loans comes from ________________.A.having bank deposits as assets.B.having bank deposits as liabilities.C.having a credit license.D.getting income from loans.E.borrowing from a bank.

What is one step a borrower should take in order to better control their debt?A.Apply for more credit cardsB.Pay only the minimum monthly paymentC.Declare bankruptcyD.Carefully examine their expensesSUBMITarrow_backPREVIOUS

What role does collateral play in bank lending? Determines the borrower’s character Serves as security against the borrowed amount Increases the interest rate of the loan Facilitates priority sector lending