Banking · Loan Collateral
Consider the following statements about the collateral provided for loans: Statement 1: Collateral for loans can encompass a diverse range of assets, including but not limited to land, buildings, apartments, retail spaces, jewelry, insurance policies, stocks, debentures, and bonds. Statement 2: The sole criterion for determining the appropriateness of a loan should be the collateral and its adequacy.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither Statement 1 nor Statement 2 is correct.
- 2Both Statements 1 and 2 are correct.
- 3Only Statement 2 is correct.
- 4Only Statement 1 is correct.✓
Correct answer
Only Statement 1 is correct.
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