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    Personal Finance Study Set 15
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    Exam 9: Personal Loans
  5. Question
    If the Lender Has the Right to Take Certain Specified
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If the Lender Has the Right to Take Certain Specified

Question 59

Question 59

Short Answer

If the lender has the right to take certain specified assets of the borrower in the event of a default on the loan, the loan is a(n) ________ loan.

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