American_Bankers_Association
CTFA · Question #41
It is a formal, legal commitment to extend credit up to some maximum amount over a stated period of time.
The correct answer is B. Revolving credit agreement. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
It is a formal, legal commitment to extend credit up to some maximum amount over a stated period of time.
Options
- ALetter of credit
- BRevolving credit agreement
- CLine of credit
- DTrade credit
How the community answered
(25 responses)- A8% (2)
- B80% (20)
- C4% (1)
- D8% (2)
Topics
#revolving credit agreement#line of credit#credit commitment#credit facilities
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