American_Bankers_Association
CTFA · Question #283
Single payment loan is a loan:
The correct answer is A. Made for a specified period B. At the end of which payment is due in full. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
Single payment loan is a loan:
Options
- AMade for a specified period
- BAt the end of which payment is due in full
- CAt the end of which half of the payment is due
- DThat expires within a year
How the community answered
(37 responses)- A78% (29)
- C14% (5)
- D8% (3)
Topics
#single payment loan#loan maturity#loan terms#short-term credit
Community Discussion
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