SIE Exam Practice Question 590
Question: 590
Which of the following refers to using property to secure payment of a loan, which includes mortgages, pledges, and putting up collateral, but the borrower retains possession?
Correct Answer: A
Explanation:
Hypothecate refers to using property to secure payment of a loan, which includes mortgages, pledges, and putting up collateral, but the borrower retains possession.
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