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if you default on your auto loan your car will be repossessed because it has been pl 638881

1) Collateralized debt is also know as

A) unsecured debt.

B) secured debt.

C) unrestricted debt.

D) promissory debt.

2) Credit card debt is

A) secured debt.

B) unsecured debt.

C) restricted debt.

D) unrestricted debt.

3) The predominant form of household debt is

A) consumer installment debt.

B) collateralized debt.

C) unsecured debt.

D) unrestricted debt.

4) If you default on your auto loan, your car will be repossessed because it has been pledged as________ for the loan.

A) interest

B) collateral

C) dividend

D) commodity

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