A. Chattle Loans : Loans obtained from Pownbrokers
B. Mortgage : Movable property that is pleddged to secure a loan
C. Collateral Security : Transfer of interest in a specific immovable property
D. Secured loans : Loan advanced without security by borrower
E. Personal Security : Borrower himself stands as the gurantor.
Choose the correct answer from the options given below :
Credit Loan Types: Statement Analysis
This section examines the statements provided regarding various credit loan types to determine their accuracy.
Statement A: Chattel Loans
Correct. Chattel loans involve using movable property as collateral. Loans obtained from pawnbrokers, where individuals pledge personal property for a loan, align with this definition.
Statement B: Mortgage
Incorrect. A mortgage is specifically a loan secured by immovable property, such as land or buildings. It does not involve movable property.
Statement C: Collateral Security
Incorrect. Collateral security refers to assets pledged to secure a loan. While it can include immovable property, it is not limited to it. Movable property can also serve as collateral. The statement's restriction to only immovable property makes it inaccurate.
Statement D: Secured Loans
Incorrect. Secured loans are advanced *with* security (collateral) provided by the borrower. The statement incorrectly defines them as loans granted *without* security.
Statement E: Personal Security
Correct. Personal security emphasizes the borrower's personal liability and creditworthiness. This includes the borrower's promise to repay and their overall financial standing, which effectively makes them responsible for the debt, similar to how a guarantor is obligated if the primary borrower defaults.
Conclusion
Based on the analysis:
- Statements A and E are correct.
- Statements B, C, and D are incorrect.
Therefore, the option correctly identifying only the accurate statements (A and E) should be chosen.
Similar Questions
- Consider the following related to approaches of organisation :
A. Authoritative approach : Equal distribution of power
B. Participative approach : Unequal distribution of power
C. Directive approach : Objectives of organisation are chosen by specialists outside the target group
D. Non-directive approach : Objectives chosen soley by the people
E. Democratic approach : Decisions are made by leader of the organisation without followers participation
Choose the correct answer from the options given below : - Consider the following with respect to international trade and select correct one.
A. General Agreement on Tariff and Trade (GATT) came into force on 01.01.1948
B. GATT disagreed to apply principle of 'Most Favoured Nations (MFN)'
C. Dunkel draft is associated with World Trade Organisation
D. GATT was implemented to impose trade barrier in international market.
E. World Trade Organisation came into effect on 01.01.1995.
Choose the correct answer from the options given below : - Match List - I with List - II.
List - I (Relationship) List - II (Products) A. Complementary Products I. Meat and wool B. Competitive Products II. Paddy Straw and Lives stock C. Supplementary Products III. Paddy and Sugarcane D. Joint Products IV. Crop and Dairy Product
Choose the correct answer from the options given below : - Which of the following is not a main component of Agreement on Agriculture (AOA) ?
- If a business firm wants to introduce a new products in the market, who they should focus (customer segment) to diffuse the product among the society ?
- Primary Agricultural Cooperative Credit Society (PACS) was the consequent of enactment of which of the following Act(s) ?
- Match List - I with List - II.
List - I (Concepts of Community Development) List - II (Significance) A. 'Movement' by Cambridge University (1948) I. By Which People involved in improving their social condition B. 'Method' by Taylor and Others (1965) II. Change from traditional way to progressive way of living C. 'Process' by Mukerji (1967) III. Accomplishing certain activities D. 'Programme' by Mukerji (1967) IV. For better living of rural people
Choose the correct answer from the options given below : - Match List - I with List - II.
List - I (Administrative Function) List - II (Description) A. Planning I. Establishing intentional structure of roles for people B. Organising II. Keeping the organisation position filled C. Staffing III. Checking the function of organisation against set roles D. Controlling IV. Blue print of activities to be carried out
Choose the correct answer from the options given below : - What is the name of famous book written by 'Father of Economics'. Adam Smith ?
- Arrange the following initiatives in order of their implementation in India.
A. Lab to Land Programme
B. National Demonstration
C. Operational Research Project
D. Krishi Vigyan Kendra
E. Reorganised KVK system
Choose the correct answer from the options given below :
Important Questions from Mixed Topic (CUET PG)
- Who was the founder of Bolshevik Communist party?
- What is the key guide to statecraft in the realist tradition?
- Chronologically arrange the events in the Cold War period.
A. Berlin Wall is constructed
B. Communist China joins the UN
C. Soviet invasion of Czechoslovakia
D. Berlin Blockade
Choose the correct answer from the options given below: Morgenthau's principles of political realism are:
A. Politics is rooted in permanent and unchanging human nature which is basically self centred, self-regarding and self-interested
B. Politics is an autonomous sphere of action and cannot therefore be reduced to morals
C. International Politics is an arena of conflicting self-interests
D. The ethics of international relations is situational ethics which is very different from private morality
Choose the correct answer from the options given below:Who among the following political thinkers consider the anarchical self help system to be a compelling factor for States to maximise their relative power positions?
