6. which item CANNOT be used as collateral for a loan?
a)house
b)large, high-value record collection
c)bank account
d)car

Question

6. which item CANNOT be used as collateral for a loan?
a)house
b)large, high-value record collection
c)bank account
d)car

anonymous · Answer

c

anonymous · Answer

thank you

anonymous · Answer

yep

anonymous · Answer

bank account ===> mchaina62@gmail.com

whpalmer4 · Answer

Actually, you'll find that if you do business with the right people, a bank account can be used as collateral, but your access to the funds will probably be restricted in some fashion.  Obviously, they don't want you to remove the collateral backing the loan.

whpalmer4 · Answer

Basically, anything with sufficient value can be used as collateral if you can find someone willing to accept it as collateral at loan terms you are willing to accept.  The more oddball or illiquid the collateral, the harder it will probably be to find such a lender.  I agree that for the purposes of this particular question, c) is probably the intended answer.